UGI Corp.’s board of directors is initiating a process to evaluate potential strategic alternatives to increase shareholder value. (Source: Shutterstock)
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.
Recommended Reading
BKV Prices IPO at $270MM Nearly Two Years After First Filing
2024-09-25 - BKV Corp. priced its common shares at $18 each after and will begin trading on Sept. 26, about two years after the Denver company first filed for an IPO.
Cibolo Energy Closes Fund Aimed at Upstream, Midstream Growth
2024-09-10 - Cibolo Energy Management LLC closed its second fund, Cibolo Energy Partners II LP, meant to boost middle market upstream and midstream companies’ growth with development capital.
Matador Offers $750 Million in Senior Notes Following Ameredev Deal
2024-09-20 - Matador Resources will offer $750 million in senior notes following the close of its $1.83 billion Ameredev II acquisition.
EQT to Cut Workforce 15% Following Close of Equitrans Acquisition
2024-10-02 - EQT Corp. closed its $5.5 billion all-stock buy of Equitrans Midstream Corp. on Sept. 22.
Viper Energy Offers 10MM Shares to Help Pay for Permian Basin Acquisition
2024-09-12 - Viper Energy Inc., a Diamondback Energy subsidiary, will use anticipated proceeds of up to $476 million to help fund a $1.1 billion Midland Basin deal.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.