UGI Gets Regulatory Nod To Acquire Total LPG Distribution Business In France

(RTTNews) - UGI Corp. (UGI) said Friday that its subsidiary, UGI France, has obtained approval from the French Competition Authority to complete its acquisition of Total's liquefied petroleum gas distribution business in France.

This is the final regulatory approval required for the acquisition to close. The purchase price is about €400 million to €450 million.

Based on retail gallons distributed, Totalgaz is comparable in size to UGI's existing Antargaz business in France, with both businesses selling to residential, commercial, industrial, and autogas customers. Antargaz has a slightly higher proportion of cylinder and small bulk sales, while Totalgaz has a slightly higher proportion of sales to large bulk customers.