On Friday, Shares of UGI Corp (NYSE:UGI), gained 0.84% to $37.40.
UGI Corp, declared acquisition of Total’s liquefied petroleum gas distribution business in France for €423 million, subject to certain post-closing adjustments. The acquisition nearly doubles UGI’s retail distribution in France to about 500 million gallons annually. The company anticipates the transaction to be $0.14 to $0.18 per share dilutive for fiscal 2015 due to customary transaction expenses and the impact of acquiring the business during the non-core summer months. The transaction will be accretive in fiscal 2016 and beyond.
John L. Walsh, president and chief executive officer of UGI Corporation, said, “We are happy to complete this important acquisition. Totalgaz is an excellent company with a long and successful operating history in France, and one that will significantly expand the scale of our existing Antargaz business in the country. We have a long history of successful acquisitions in Europe and this acquisition represents another step in our commitment to deliver profitable growth in the region.” Eric Naddeo, general manager of UGI France, added, “This is an exciting opportunity for UGI France as it significantly expands our customer base and will enable us to service our customers more efficiently. We look forward to welcoming the Totalgaz team.”
UGI Corporation, through its auxiliaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally.
Shares of Public Storage (NYSE:PSA), declined -1.01% to $ 193.54, during its last trading session.
Public Storage is expanding its presence in the San Francisco Peninsula recently with additional self-storage units in East Palo Alto to serve residents in that growing community.
The company will triple the number of units it owns in town by adding additional storage adjacent to the existing Public Storage 1961 E. Bayshore Rd, East Palo Alto, CA 94303. It is expanding by acquiring the facility from American Self Storage and renovating it.
The newly-attained, three-building location offers 765 storage units on two acres in a neighborhood of relatively affordable homes and retail such as IKEA and Home Depot. The location will also draw customers from Stanford University, three and a half miles away.
Public Storage is an equity real estate investment trust. It engages in the acquisition, development, ownership, and operation of self-storage facilities in the United States and Europe.
At the end of Friday’s trade, Shares of Landstar System, Inc. (NASDAQ:LSTR), gained 1.76% to $ 65.40.
Landstar System, declared that effective May 19th, Diana M. Murphy was named its non-executive Chairman of the Board following Landstar’s 2015 Annual Meeting of Stockholders. Ms. Murphy joined the Landstar Board of Directors in 1998 and has served as Independent Lead Director of the Board since May 2012. During her tenure on the Board, Ms. Murphy has also served on each Board committee, counting service as chairman of the compensation, nominating and corporate governance and planned planning committees. Ms. Murphy also serves on the Board of Directors of CTS Corporation, a NYSE-listed leading designer and manufacturer of electronic components to OEMs in various industries, and is a Vice President of the United States Golf Association and a member of its executive committee.
The Company also declared that Anthony J. Orlando has joined its Board of Directors. Mr. Orlando, 55, most recently served as President and Chief Executive Officer for Covanta Holding Corporation, a developer and operator of renewable energy facilities focused on transforming waste into energy, from October, 2004 to March, 2015. Mr. Orlando held various other executive positions during his 28 year tenure with Covanta Holding Corporation and with Foster Wheeler Corporation preceding to that.
Landstar System, Inc., together with its auxiliaries, provides integrated transportation administration solutions in the United States and internationally. The company operates through two segments, Transportation Logistics and Insurance.
Finally, Williams Partners LP (NYSE:WPZ), ended its last trade with -0.29% loss, and close at $ 55.88.
Williams Partners, declared that it has placed into service its Rockaway Delivery Lateral and Northeast Connector projects, increasing natural gas delivery capacity to Brooklyn and Queens and assisting New York City meet its clean-air aims.
With a daily delivery capacity of 647,000 dekatherms, the Rockaway Delivery Lateral provides an additional supply-delivery connection between Williams’ Transco transmission pipeline and the National Grid distribution system, which provides local natural gas service to 1.8 million customers in Brooklyn, Queens, Staten Island and Long Island. The Rockaway project adds 3.2 miles of new Transco pipeline and related facilities in New York. The Northeast Connector project comprises of equipment to enhance compression at three existing Transco facilities in New Jersey and Pennsylvania and provides 100,000 dekatherms per day of firm transportation capacity from Transco’s Station 195 in southeastern Pennsylvania to the Rockaway Delivery Lateral.
Williams Partners L.P., an energy infrastructure company, focuses on connecting North America’s hydrocarbon resource plays to growing markets for natural gas and natural gas liquids.
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