By Philadelphia Business Journal

UGI Energy Services Inc. will sell its Atlantic Energy unit to Midstream Partners LP for $49 million plus inventory and other working capital.

Atlantic Energy owns and operates a propane import terminal in the Port of Chesapeake, Va.

UGI Energy Services markets natural gas, electricity and fuel oil to commercial and industrial customers in the mid-Atlantic region. It is a subsidiary of Valley Forge, Pa.-based UGI Corp. (NYSE: UGI).

Denver-based DCP Midstream Partners (NYSE:DPM) gathers and processes natural gas, and produces and markets natural gas liquids.

Copyright 2010 American City Business Journals
Copyright 2010