AmeriGas Partners LP's operating partnership has agreed to acquire Shell Gas (LPG) USA, which owns and operates a retail propane distribution business.
The business sells more than 13 million gallons of propane annually to nearly 20,000 customers from 12 locations in Michigan. Terms of the transaction were not disclosed. This sale, which is subject to customary closing conditions, is expected to occur during the second quarter of 2007.
AmeriGas Partners is the nation's largest retail propane marketer, serving nearly 1.3 million customers from more than 600 distribution locations in 46 states. UGI Corp, through subsidiaries, owns 44% of the partnership and individual unitholders own the remaining 56%.