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UGI acquires European LPG businesses from Shell

UGI Corporation acquired Shell’s liquefied petroleum gas (LPG) distribution businesses in the United Kingdom, Belgium, the Netherlands, Luxembourg, Denmark, Finland, Norway and Sweden. Due to the confidentiality provisions of the purchase agreement, terms of the transaction were not disclosed. The acquired businesses delivered approximately 300 million gallons of LPG in 2010. UGI is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes propane both domestically and internationally, manages midstream energy and electric generation assets in Pennsylvania, and engages in energy marketing in the Mid-Atlantic region. According to UGI, the acquired businesses provide UGI with an attractive opportunity to expand its footprint in northern Europe to LPG markets that are in close proximity to its existing operations in France and Central Europe.