BECKLEY, WV (AP) — A Pennsylvania-based company has signed an agreement to purchase the parent company of West Virginia’s largest local gas distributor.
The Register-Herald reports UGI Corporation of Pennsylvania has signed a $540 million agreement to buy the Delaware-based Mountaintop Energy Holdings LLC, which owns Mountaineer Gas.
Mountaineer serves nearly 215,000 customers across 50 of West Virginia’s 55 counties.
The sale is pending approval by the West Virginia Public Service Commission, the regulatory agency that oversees public utilities. It is also subject to federal antitrust legislation.
According to UGI, if the sale is approved, it is expected to close by June 2021.