AmeriGas Propane, L.P., the largest retail propane distributor in the United States, has announced a definitive agreement to sell its assets in Hawaii to Isle Gas, a subsidiary of AMF Hawaii Investment Holdings, LLC. This transaction involves the divestment of approximately 750,000 gallons of propane storage facilities and a fleet of delivery vehicles serving customers across Hawaii. The proceeds from the sale will be used to reduce debt at AmeriGas. The transaction is expected to finalize in the fourth quarter of fiscal year 2025, pending customary closing conditions. AmeriGas President Mike Sharp stated that this move aligns with the company's strategy to enhance operational results and customer value by focusing on regions where they can achieve superior outcomes.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.