UPDATE 1-Energy distributor UGI to buy some assets of Columbia Midstream for $1.28 bln [Reuters]
TC Energy Corporation (TRP)
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Source: Reuters
UPDATE 1-Energy distributor UGI to buy some assets of Columbia Midstream for $1.28 bln - Reuters 2 Min Read (Adds CEO quote, TC Energy statement and background) July 2 (Reuters) - Energy distributor UGI Corp said on Tuesday it would buy some assets of Columbia Midstream Group from pipeline operator TC Energy Corp for about $1.28 billion to expand its midstream business. The Pennsylvania-based company said in a statement that it expected the deal to be neutral to earnings per share in the 2020 fiscal year and accretive from the following year. Columbia Midstream Group, which operates in the Appalachian Basin, owns four natural gas gathering systems, an interest in a company with gathering, processing and liquids assets, and a pipeline that runs through western Pennsylvania, eastern Ohio and northern West Virginia. UGI Corp unit UGI Energy Services will acquire these assets from a subsidiary of TC Energy. The sale does not include any interest in the company’s minerals business in the A
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