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Parent of Retail Supplier Announces Review of Strategic Alternatives
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UGI Corporation announced today that its Board of Directors, "has initiated a process to evaluate potential strategic alternatives with the intent to unlock and maximize shareholder value."
While UGI's retail energy supply business was not specifically cited as a focus of the review in a news release, as certain other businesses were (noted below), UGI said that, "the goal of reducing UGI’s earnings volatility and strengthening its balance sheet."
More specifically, UGI's LPG businesses will be a focus of the review
"In consultation with financial and legal advisors, the strategic review, focused on the LPG businesses, will consider a range of strategic, operational and financial alternatives. The company is exploring a full range of options with the goal of reducing UGI’s earnings volatility and strengthening its balance sheet. Embedded within the review will also be actions to optimize the company's cost structure and re-align its capital allocation priorities," UGI said
"There is no assurance that the strategic review process will result in the approval or completion of any specific transaction or outcome," UGI said
"UGI has not established a timeline for completion of the review process and does not intend to disclose developments unless and until its Board of Directors approves a specific transaction, concludes the review, or determines that further disclosure is appropriate or is required," UGI said
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August 30, 2023
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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