UGI to Acquire Stonehenge Appalachia Midstream Natural Gas Gathering System.
MANews-(C)2009-2022
US-based energy products and services distributor UGI Corp. (NYSE: UGI) UGI Energy Services, LLC subsidiary has entered into a definitive agreement to acquire Stonehenge Appalachia, LLC from Stonehenge Energy Holdings, LLC for approximately USD 190m, the company said.
This investment is expected to be immediately accretive to adjusted earnings.
The Stonehenge system, located in Butler County Pennsylvania, includes more than 47 miles of pipeline and associated compression assets, and has gathering capacity of 130 m cubic feet per day.
The transaction is subject to customary regulatory and other closing conditions, including Federal antitrust clearance pursuant to the US Hart-Scott-Rodino Antitrust Improvements Act.
Assuming fulfillment of all conditions, the transaction is expected to close by January 31, 2022.
UGI Corp. is a distributor and marketer...
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