UGI To Buy Columbia Midstream Assets From TC Energy For $1.275 Bln

(RTTNews) - UGI Corp. (UGI) said that its subsidiary, UGI Energy Services, LLC, agreed to acquire the equity interests of Columbia Midstream Group LLC from a subsidiary of TC Energy Corporation (TRP) for about $1.275 billion, subject to customary adjustments at closing.

The company expects the transaction to be EPS neutral in fiscal year 2020, and accretive beginning in fiscal year 2021 excluding transaction and integration costs.

The transaction is expected to close in UGI's fiscal fourth quarter and is subject to customary regulatory and other closing conditions.