UGI $2.44 billion acquisition of AmeriGas Partners

Overview:

• Energy distribution company UGI has acquired retail propane marketer AmeriGas Partners in a $2.44 billion deal. 
• UGI had previously held a stake in AmeriGas, but the new agreement gives the company full control over AmeriGas. 
• As part of the deal, AmeriGas will change from a master limited partnership to a wholly owned subsidiary of UGI. 
• JP Morgan Securities acted as financial adviser for UGI and Tudor Pickering Holt & Co advised AmeriGas. 
• The transaction is expected to close in the fourth quarter of 2019. 

Kurt Stumpo - US Editor