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Company News

Energy distributor UGI's unit to acquire Columbia Midstream for $1.28 bln

July 2 (Reuters) - Energy distributor UGI Corp said on Tuesday its unit UGI Energy Services will acquire Columbia Midstream Group from a subsidiary of Canada’s TC Energy Corp for about $1.28 billion to expand its midstream business.

The Pennsylvania-based company said it expected the deal to be neutral to earnings per share in fiscal year 2020 and accretive starting fiscal year 2021, according to a statement. (Reporting by Mekhla Raina in Bengaluru; Editing by Rashmi Aich)

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