NEW YORK, Aug 11 (Reuters) - U.S. energy company UGI Corp on Wednesday said it agreed to buy BP Plc's liquefied petroleum gas business in Denmark.
Terms of the deal, including its value, were not disclosed. The BP business distributes nearly 9.5 million gallons of liquefied petroleum gas annually in Denmark.
UGI said the business will be managed by its Flaga GmbH subsidiary, which distributes the gas in Europe.
British oil major BP is in the midst of a $25 billion to $30 billion asset sales program to shore up its balance sheet in the wake of its massive oil spill in the Gulf of Mexico.
UGI expects the deal to close in Spetember.
(Reporting by Michael Erman, editing by Leslie Gevirtz) Keywords: BP UGI/ (Reuters Messaging: michael.erman.reuters.com@reuters.net; +1 646 223 6021) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Terms of the deal, including its value, were not disclosed. The BP business distributes nearly 9.5 million gallons of liquefied petroleum gas annually in Denmark.
UGI said the business will be managed by its Flaga GmbH subsidiary, which distributes the gas in Europe.
British oil major BP is in the midst of a $25 billion to $30 billion asset sales program to shore up its balance sheet in the wake of its massive oil spill in the Gulf of Mexico.
UGI expects the deal to close in Spetember.
(Reporting by Michael Erman, editing by Leslie Gevirtz) Keywords: BP UGI/ (Reuters Messaging: michael.erman.reuters.com@reuters.net; +1 646 223 6021) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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