UGI to acquire BP LPG business in Denmark

UGI Corporation, a US-based energy company, has entered into an agreement to buy the liquefied petroleum gas (LPG) distribution business of British oil company BP in Denmark.

Nearly 9.5 million gallons of LPG are distributed by BP annually in Denmark and UGI's Flaga subsidiary will manage this distribution business.

UGI chairman and CEO Lon Greenberg said that this acquisition provides an opportunity to expand the company's footprint in Europe.

More than 70 million gallons of LPG are distributed annually by Flaga in Austria, Czech Republic, Poland, Slovakia, Hungary, Romania and Switzerland.

UGI, a holding company with propane marketing, utility and energy marketing subsidiaries, also owns French LPG distributor Antargaz.