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UGI Announces Purchase of LPG Business in Hungary from Shell

^{Published on 2010-09-15 11:10:33 - Market Wire}
 

VALLEY FORGE, Pa.--([ BUSINESS WIRE ])--UGI Corporation (NYSE: UGI) today reported that its subsidiary, Flaga GmbH, has acquired the liquefied petroleum gas (LPG) distribution business of Shell Gas Hungary Zrt. Headquartered in Austria, Flaga distributes nearly 70 million gallons of LPG annually in Austria, the Czech Republic, Hungary, Poland, Romania, Slovakia and Switzerland. Shell Gas distributed approximately 27 million gallons of LPG in Hungary in 2009. Terms of the transaction were not disclosed.

Lon R. Greenberg, chairman and chief executive officer of UGI, said, aThis transaction represents an opportunity for UGI to expand its operations and footprint in a meaningful way in Hungary, a country in which we operate currently and a market that we view as attractive. We look forward to welcoming the LPG customers and employees of Shell Gas Hungary Zrt to the UGI family.a

UGI is a holding company with propane marketing, utility and energy marketing subsidiaries. Through subsidiaries, UGI owns 44% of AmeriGas Partners, L.P., the nation's largest retail propane marketer, and owns Antargaz, one of the largest LPG distributors in France.

Comprehensive information about UGI Corporation is available on the Internet at [ http://www.ugicorp.com ]

This press release contains certain forward-looking statements which management believes to be reasonable as of todaya™s date only.Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond managementa™s control.Among them are adverse weather conditions, cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil, increased customer conservation measures, the impact of pending and future legal proceedings, and domestic and international political, regulatory and economic conditions including currency exchange rate fluctuations, particularly the euro.You should read UGIa™s Annual Report on Form 10-K for a more extensive list of factors that could affect results.UGI undertakes no obligation to release revisions to its forward-looking statements to reflect events or circumstances occurring after today.