UGI to buy BP's Polish LPG distribution unit
Flaga GmbH, a subsidiary of energy distributor and marketer UGI Corp., has reached a definitive agreement to acquire the liquefied petroleum gas (LPG) distribution business of BP in Poland.
BP's Polish LPG business distributed over 150 million gallons (MMgal) of LPG in 2011 and serves the residential, commercial, autogas and wholesale segments.
UGI's international propane business distributed over 600 MMgal of LPG throughout Europe in fiscal year 2012.
The transaction is subject to customary closing conditions, including regulatory approval in Poland, and it is expected to close during the first half of 2013.
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