UGI Corporation board decides to retain ownership of AmeriGas Propane

After extensive deliberation, the Board has determined that in the current market the best path forward to maximize shareholder value is to retain ownership of AmeriGas Propane. During the review, the company and its financial advisors evaluated several value creation opportunities including a potential sale, spin, and joint venture of AmeriGas. While the company conducted due diligence with multiple strategic and financial parties, the Board decided that the company should focus on a restructuring and operational improvement plan for AmeriGas. The review concluded that disciplined execution of a revised operational strategy and optimization of UGI‘s diverse mix of strategically located assets best positions the company to create long-term shareholder value. Mario Longhi said, “After a comprehensive review process, the Board agreed that in the current market, the best path forward in creating shareholder value is to execute on its repositioned long-term strategy and strengthen the balance sheet. This includes maintaining an intense focus on customer retention, improved free cash flow generation, effective cost control and disciplined capital allocation. Although the process has concluded, we remain open to all opportunities to optimize our portfolio and unlock further value for shareholders.” “For the fiscal year, we are on track to deliver full-year results within our fiscal 2024 adjusted EPS guidance range. We are confident that diligent execution on the fundamentals will enable UGI to build a strong momentum of balanced growth and value creation.”