ADNOC's unit explores potential investment in UGI Corp.'s propane unit, AmeriGas, for its first major US acquisition.

Abu Dhabi National Oil Company's (ADNOC) unit is exploring a potential investment in UGI Corp.'s propane distribution unit, AmeriGas, which could value the company at several billion dollars. This would mark ADNOC's first major US acquisition, as part of its strategy to diversify operations beyond crude oil. UGI Corp.'s shares jumped by 6.4% following news of ADNOC's interest in a deal.