Pennsylvania-based natural gas and electric utility UGI Utilities Inc. has purchased the gas utility assets of PG Energy from Southern Union Co. for $580 million. The assets, which will be renamed UGI Penn Natural Gas Inc., will add nearly 158,000 customers to its gas operations. The gas division had been serving 307,000 customers in 14 Pennsylvania counties. The sale is expected to be accretive to earnings in the first full fiscal year of ownership, according to UGI Corp. Chairman Lon R. Greenberg. Morgan Lewis & Bockius LLP provided legal services to UGI in connection with the acquisition. Through its subsidiaries, UGI Corp. owns 44% of AmeriGas Partners LP, the nation’s largest retail propane marketer, and it owns Antargaz, one of the largest liquefied petroleum gas distributors in France.

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