UGI To Buy Total's LPG Distribution Unit In France For EUR400 Mln- 450 Mln

(RTTNews) - UGI Corp.'s (UGI) wholly-owned French unit, UGI Bordeaux Holding, has agreed to buy Total's liquefied petroleum gas distribution business in France for 400 million to 450 million euros.

Total's French LPG business provided over 265 million retail gallons of LPG in 2013, serving residential, commercial, industrial and autogas customers. UGI International distributed nearly 600 million retail gallons of LPG throughout Europe in fiscal 2013, which included more than 250 million retail gallons of LPG by Antargaz in France.

The acquisition, which will be funded through a combination of cash on hand and debt financing, is expected to add to UGI 's earnings in the first full year.

The transaction is expected to close during the first half of 2015.