UGI Corporation Announces Review of Strategic Alternatives
August 30 2023 - 5:00PM
Business Wire
UGI Corporation (NYSE: UGI) announced today that its Board of
Directors has initiated a process to evaluate potential strategic
alternatives with the intent to unlock and maximize shareholder
value. In consultation with financial and legal advisors, the
strategic review, focused on the LPG businesses, will consider a
range of strategic, operational and financial alternatives. The
company is exploring a full range of options with the goal of
reducing UGI’s earnings volatility and strengthening its balance
sheet. Embedded within the review will also be actions to optimize
the company's cost structure and re-align its capital allocation
priorities.
UGI has engaged Goldman Sachs & Co. LLC and J.P. Morgan
Securities, LLC as advisors in its review of strategic
alternatives. There is no assurance that the strategic review
process will result in the approval or completion of any specific
transaction or outcome.
UGI has not established a timeline for completion of the review
process and does not intend to disclose developments unless and
until its Board of Directors approves a specific transaction,
concludes the review, or determines that further disclosure is
appropriate or is required.
About UGI Corporation
UGI Corporation (NYSE: UGI) is a distributor and marketer of
energy products and services in the US and Europe. UGI offers safe,
reliable, affordable, and sustainable energy solutions to customers
through its subsidiaries, which provide natural gas transmission
and distribution, electric generation and distribution, midstream
services, propane distribution, renewable natural gas generation,
distribution and marketing, and energy marketing services.
Comprehensive information about UGI Corporation is available on
the Internet at https://www.ugicorp.com.
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