The details: KKR has sent a takeover offer to UGI Corp., a Pennsylvania-based natural gas and electric distribution company (whose subsidiary serves over 700K utility customers in PA and MD). But it’s unclear whether UGI is game, The Wall Street Journal reported.
The trend: The data center buildout has whet PE’s appetite for energy firms. KKR, for one, bought EDF Power Solutions’s 5.6-GW US and Canada renewables portfolio in June. And earlier this year, Energy Capital Partners sold natural gas business Calpine to Constellation for $26.6B (which could become the most profitable PE deal of all time).
Wed, Aug 19
Molly Glick
Energy Central Team
NEWS: A private-equity firm wants to buy UGI for a cool $9B.
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