(Il Sole 24 Ore Radiocor) - Milano, 28 apr - UGI Utilities said it had agreed to sell its electric division to funds managed by Argo Infrastructure Partners for 470 million dollars.

After-tax proceeds will be used to reduce UGI debt and for general corporate purposes, strengthening UGI's balance sheet and providing greater financial flexibility, the company said.

The transaction is expected to close in the first quarter of calendar year 2027.

UGI Utilities' Electric Division's assets include approximately 2,700 miles of transmission and distribution lines and 14 substations in Pennsylvania's Luzerne and Wyoming counties that serve more than 63,000 customers.

UGI Utilities is wholly owned by UGI Corporation.

(RADIOCOR) 28-04-26 18:59:55 (0713) 5 NNNN