Subsidiary of UGI, UGI Energy Services acquired the equity interests of Columbia Midstream Group from a subsidiary of TC Energy for approximately $1.275bn, subject to customary adjustments at closing. CMG holds five gathering systems, with capacity of roughly 2.6mMMBtu/day and 240 miles of pipeline, located in the southwestern core of the Appalachian Basin. The acquisition significantly expands UGI’s midstream portfolio and provides an opportunity to invest an additional $300-500m over the next five years at attractive returns. The company expects the transaction to be EPS neutral in fiscal year 2020, and accretive beginning in fiscal year 2021 excluding transaction and integration costs. “Columbia Midstream Group is a well-run organization with a solid portfolio of strategic assets that enhance and build upon our existing business. We believe this acquisition is a great fit strategically, operationally and culturally, and are excited to welcome the CMG employees to the UGI family of companies.” Robert F. Beard, Executive Vice President, Natural Gas of UGI.