Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

UGI May Target Germany After Buying BP’s Polish LPG Business

Sept. 5 (Bloomberg) -- UGI Corp., the largest U.S. distributor of liquefied petroleum gas, will seek takeover targets in Germany after buying BP Plc’s Polish LPG business, a company official said.

“We’re looking for more acquisitions in Poland and in Europe,” Donald Groth, UGI’s director for corporate development, told a news briefing in Warsaw today. “Over time there will be opportunities for us to expand in Germany too.”

UGI’s European subsidiary Flaga GmbH yesterday completed the acquisition of BP’s business, which sold 150 million gallons of LPG last year and became one of Poland’s three largest distributors of the fuel used to power cars and heat homes. With Flaga, the Pennsylvania-based company operates in 16 European countries but not Germany, the continent’s biggest economy.

UGI expects its sales in Poland will rise to 1.2 billion zloty ($369 million) in 2014, double the 2012 level. Poland is Europe’s second-largest consumer of LPG after Italy and uses 2.2 million metric tons of the fuel a year, of which 73 percent powers cars compared with a European average of 8 percent, according to the company.

To contact the reporters on this story: Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.