UGI to acquire BP’s LPG Distribution Business in Poland

  UGI to acquire BP’s LPG Distribution Business in Poland

Business Wire

VALLEY FORGE, Pa. -- November 20, 2012

UGI Corporation (NYSE: UGI) today announced that its subsidiary, Flaga GmbH,
has reached a definitive agreement to acquire the liquefied petroleum gas
(LPG) distribution business of BP in Poland. BP’s Polish LPG business
distributed over 150 million gallons of LPG in 2011 and serves the
residential, commercial, autogas, and wholesale segments. UGI’s International
Propane business distributed over 600 million gallons of LPG throughout Europe
in fiscal 2012. The transaction is subject to customary closing conditions
including regulatory approval in Poland, and is expected to close during the
first half of 2013. Terms of the transaction were not disclosed.

Lon R. Greenberg, chairman and chief executive officer of UGI, said, “We look
forward to adding BP’s Polish LPG business to our existing footprint in
Poland, one of the largest LPG markets in Europe. The acquisition of this
high-quality business reaffirms our commitment to add value for our
shareholders through profitable growth in Europe and we expect the transaction
to be modestly accretive to EPS in fiscal 2014, the first full fiscal year of
integrated operations.”

UGI is a distributor and marketer of energy products and services. Through
subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania,
distributes propane both domestically and internationally, manages midstream
energy and electric generation assets in Pennsylvania, and engages in energy
marketing in the Mid-Atlantic region. UGI, through subsidiaries, is the sole
General Partner and owns 26% of AmeriGas Partners, L.P. (NYSE:APU), the
nation's largest retail propane distributor.

Comprehensive information about UGI Corporation is available on the Internet
at http://www.ugicorp.com.

This press release contains certain forward-looking statements that management
believes to be reasonable as of today’s date only. Actual results may differ
significantly because of risks and uncertainties that are difficult to predict
and many of which are beyond management’s control. You should read UGI’s
Annual Report on Form 10-K for a more extensive list of factors that could
affect results. Among them are adverse weather conditions, cost volatility and
availability of all energy products, including propane, natural gas,
electricity and fuel oil, increased customer conservation measures, the impact
of pending and future legal proceedings, domestic and international political,
regulatory and economic conditions including currency exchange rate
fluctuations (particularly the euro), the timing of development of Marcellus
Shale gas production, the timing and success of our commercial initiatives and
investments to grow our business, and our ability to successfully integrate
acquired businesses, including Heritage Propane, and achieve anticipated
synergies. UGI undertakes no obligation to release revisions to its
forward-looking statements to reflect events or circumstances occurring after
today.

Contact:

UGI Corporation
Hugh Gallagher, 610-337-1000 ext. 1029
or
Simon Bowman, 610-337-1000 ext. 3645
or
Shelly Oates, 610-337-1000 ext. 3202