UGI gains on report of potential ADNOC investment in propane unit

UGI

19/04/2024 17:39

** Shares of natural gas utility UGI  UGI.N  up 6.8% at
$25.4 - earlier hitting more than an eight-month high during the
session
    ** Abu Dhabi National Oil Company (ADNOC) unit considering
potential investment in UGI's propane distribution arm AmeriGas,
Bloomberg reports
    ** UGI had initiated a strategic review of alternatives
focused on its liquefied petroleum gas (LPG) businesses in
August last year  
    ** Including session's gains, stock has risen 3% YTD 

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com;))