UGI $1.275 billion acquisition of Columbia Midstream Group

Overview:

• UGI has acquired Columbia Midstream Group (CMG) in a $1.275 billion deal. 
• CMG was sold by TC Energy. 
• CMG operates four natural gas gathering systems in the Appalachian Basin. 
• UGI obtained a $700 million bridge facility from Credit Suisse to help finance the acquisition. 
• Wells Fargo Securities acted as financial adviser to TC Energy on the transaction. 
• The deal is expected to close in the third quarter of 2019. 

Kurt Stumpo - US Editor