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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (75441)	4/19/2024 10:01:55 PM
From: E_K_S	Read Replies (1) \| Respond to of 78470

Abu Dhabi National Oil Company It is the United Arab Emirate's largest oil company Adnoc Unit Considers Investment in UGI’s Propane Business Vinicy Chan and Dinesh Nair Fri, Apr 19, 2024, 8:16 AM MST2 min read (Bloomberg) -- A unit of Abu Dhabi National Oil Co. is considering a potential investment in UGI Corp.’s propane distribution unit AmeriGas, according to people with knowledge of the matter. State-owned Adnoc is working with advisers to discuss the possible purchase of a stake in AmeriGas, the people said, asking not to be identified because the information is private. A transaction could value AmeriGas at several billion US dollars, according to the people. The Middle Eastern energy giant would likely do the investment through its listed retail arm Adnoc Distribution if it decides to proceed, according to the people. A deal would mark Adnoc’s first major acquisition in the US, and comes as it attempts to diversify beyond crude. Deliberations are ongoing and there’s no certainty they will lead to a transaction, the people said. A representative of Adnoc declined to comment, while UGI didn’t immediately reply to a request for comment. Shares of UGI jumped 6.4% to $25.31 at 11:14 a.m. in New York after Bloomberg News reported Adnoc’s interest in a deal. The stock has fallen 27% over the past year. UGI, based in King of Prussia, Pennsylvania, announced in August that it was exploring strategic alternatives. The company said it was working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on a review focused on its liquefied petroleum gas business. UGI agreed in 2019 to buy the AmeriGas shares it didn’t already own for $2.4 billion, valuing the propane distributor at about $3.3 billion. Adnoc, along with other Middle Eastern companies, has been trying to broaden its operations as demand for crude is expected to decline amid the energy transition. It has also been negotiating with German chemical company Covestro AG after its latest offered valued it at €11.3 billion ($12 billion). UGI also operates a natural gas distribution business and an electric utility, and has an international propane distribution business in Europe.

To: E_K_S who wrote (75441)	4/20/2024 12:40:36 AM
From: Madharry	Read Replies (1) \| Respond to of 78470

OT shocked to find out that my local 99 cents store is closing its doors. they were almost always busy. Now I read that all 300 plus stores nationwide are closing its doors and going out of business. I will miss them . they had the cheapest produce and tortillas in town cheap sunglasses for $1.50, all sorts of surprisingly useful stuff I have no idea where else to get. they attribute cost pressures and shoplifting to their demise

To: E_K_S who wrote (75441)	5/1/2024 6:43:03 PM
From: E_K_S	Respond to of 78470

Re: Ugi Corp (UGI) POST-MARKET 24.50 -1.39 (-5.37%) - Earnings and STRATEGIC REVIEW CONCLUSION Q2 GAAP diluted EPS of $2.30 and adjusted diluted EPS of $1.97 compared to GAAP diluted EPS of $0.51 and adjusted diluted EPS of $1.68 in the prior-year period. UGI beat on earnings and concluded their strategic review w/ the following statement: . . that in the current market, the best path forward in creating shareholder value is to execute on its repositioned long-term strategy and strengthen the balance sheet. This includes maintaining an intense focus on customer retention, improved free cash flow generation, effective cost control and disciplined capital allocation. Although the process has concluded, we remain open to all opportunities to optimize our portfolio and unlock further value for shareholders. During the review, the company and its financial advisors evaluated several value creation opportunities including a potential sale, spin, and joint venture of AmeriGas. While the company conducted due diligence with multiple strategic and financial parties, the Board decided that the company should focus on a restructuring and operational improvement plan for AmeriGas. The review concluded that disciplined execution of a revised operational strategy and optimization of UGI’s diverse mix of strategically located assets best positions the company to create long-term shareholder value. ----------------------------------------- They did get interest from the Saudi firm so I suspect all options are open if/when the right offer is presented. Stock is down 5% After Hours as speculators were looking for a deal. I am betting that some deal will be done "When The Time Is Right" ; 6% dividend while you wait