UGI gains on launch of strategic review of LPG businesses

UGI

31/08/2023 16:46

** Shares of natural gas utility UGI  UGI.N  up 10% at
$25.43 
    ** Co says it has initiated a process to evaluate potential
strategic alternatives focused on its liquefied petroleum gas
(LPG) businesses 
    ** "The company is exploring a full range of options with
the goal of reducing UGI's earnings volatility and strengthening
its balance sheet" - Co 
    ** Says it has engaged Goldman Sachs and J.P. Morgan
Securities as advisors in its review 
    ** Including the session's gains, stock is down 31.5% YTD 

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))