By Tyler Losier, Power Reporter, Oil & Fuel 360
UGI subsidiary to amass Columbia Midstream from TC Power subsidiary
UGI Company (inventory ticker: UGI) subsidiary UGI Power Providers has signed a definitive settlement to amass the fairness pursuits of Columbia Midstream Group (CMG) from a subsidiary of TC Power Company (inventory ticker: TRP) for roughly $1.275 billion.
The property owned by CMG embrace 5 gathering techniques with a capability of roughly 2,675,000 MMBtu per day and 240 miles of pipeline, situated within the southwestern area of the Appalachian Basin. UGI expects that the transaction will likely be EPS impartial within the 2020 fiscal yr, and accretive starting within the 2021 fiscal yr, excluding transaction and integ…