AmeriGas Propane has signed a definitive agreement to sell its propane infrastructure in Hawaii as part of a strategy to optimize its portfolio and focus on regions with higher operating returns.
AmeriGas presents its asset retirement plan
The U.S. company has confirmed the divestment of its assets in the Hawaiian archipelago, including around 750,000 gallons of storage facilities and a fleet of delivery vehicles. The move is part of its plan to strengthen its presence in key markets and channel resources to better-performing areas.
[post_relacionado]The buyer, Isle Gas, is a subsidiary of AMF Hawaii Investment Holdings, an entity managed by Argo Infrastructure Partners. With this acquisition, Isle Gas expands its participation in the island’s energy market and strengthens its liquefied gas distribution network.
AmeriGas will use the proceeds from the transaction to reduce its debt burden, in line with its financial priorities. The company’s president, Mike Sharp, has noted that this decision reflects a commitment to continuous improvement in operational and financial performance.
Cetane Associates acted as exclusive financial advisor to AmeriGas during the transaction. The transaction is expected to close in the fourth quarter of fiscal 2025, subject to customary closing conditions.
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Source: UGI Corporation
Photo: AmericaGas