BUZZ-UGI gains on report of potential ADNOC investment in propane unit
Reuters · 04/19 16:39
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** Shares of 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)
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