UGI Corp.’s board of directors are looking to shake things up, initiating a process to evaluate potential strategic alternatives to increase shareholder value, the company said in an Aug. 30 press release. 

The strategic review will focus on UGI’s LPG businesses and will consider a range of “strategic, operational and financial alternatives.”

The company said it will explore “a full range of options” to reduce UGI’s earnings volatility and strengthen its balance sheet. The review will also encompass optimization of the company's cost structure and re-align its capital allocation priorities.

UGI has engaged Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as advisers in its review of strategic alternatives. There is no assurance that the strategic review process will result in the approval or completion of any specific transaction or outcome.

UGI has not established a timeline for completion of the review process and does not intend to disclose developments unless and until its board approves a specific transaction, concludes the review or determines that further disclosure is appropriate or required.