Valley Forge-based UGI Corp. recently announced that its board of directors has begun evaluating potential strategic alternatives to maximize shareholder value.
The company is exploring a full range of strategic, operational and financial alternatives with the goal of reducing UGI’s earnings volatility and strengthening its balance sheet.
The strategic review will be conduced in consultation with financial and legal advisers and will be focused on the company’s liquefied petroleum gas businesses. It will contain actions the company can take to optimize its cost structure and re-align its capital allocation priorities.
Goldman Sachs & Co. and J.P. Morgan Securities will serve as advisers in UGI’s review of strategic alternatives.
UGI has not established a timeline for completion of the review process and cautions that the strategic review process may not result in the approval or completion of any specific transaction or outcome.
The company will not disclose developments unless its board of directors concludes the review, determines that further disclosure is appropriate or required, or approves a specific transaction.
UGI Corp. is a distributor and marketer of energy products and services in the United States and Europe through its subsidiaries. They provide natural gas transmission and distribution, electric generation and distribution, midstream services, and other services.