UGI Sells Electric Division to Argo Infrastructure Partners for $470 Million

UGI Corporation has agreed to sell its electric distribution business (Electric Division) to Argo Infrastructure Partners for $470 million in cash. The deal was announced as part of UGI's strategy to simplify its portfolio and focus on its core natural gas distribution operations. The transaction is subject to regulatory approvals and customary closing conditions, and is expected to be completed in the first half of fiscal 2025. UGI plans to use the proceeds for debt reduction and other corporate purposes aimed at enhancing shareholder value. Argo Infrastructure Partners stated that the acquired electric division will continue to operate as an independent company with its existing management team and employees. This move is seen as a reflection of UGI's efforts to restructure its energy infrastructure assets. This is not investment advice.