UGI Corp completed a 75% stake acquisition of AmeriGas Partners for $2.4bn.

UGI Corp, an energy distributor, completed an acquisition of 75% stake in AmeriGas Partners, a retail propane marketer, in a cash-and-stock deal valued at $2.4bn. Under the deal, AmeriGas shareholders received 0.50 shares of UGI in addition to $7.63 in cash for each share owned. “Our two companies have a long and successful history of working together, spanning 60 years. A consolidation of AmeriGas’ ownership maximizes value for both companies and our respective stakeholders, as we will be better positioned to invest and grow. In particular, we welcome AmeriGas’ current unitholders and look forward to being exceptional stewards of their capital,” John L. Walsh, UGI President and Chief Executive Officer.