Inergy sells retail propane business to Suburban Propane

04/26/2012 | Reuters

Inergy has agreed to sell its retail propane business to Suburban Propane Partners for $1.8 billion, Suburban Propane announced this week. The deal would increase Suburban Propane's market reach and make it among the country's top propane retailers, along with AmeriGas and Ferrellgas Partners. "Proceeds from the sale of the retail propane business will substantially improve Inergy's balance sheet, we believe," industry analysts said.

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