Question-and-Answer Session
Operator
(Operator Instructions). Our first question comes from Shneur Gershuni, UBS.
Shneur Gershuni - UBS
Hi, good morning. Good afternoon, guys.
Lon Greenberg
Hi, Shneur.
Shneur Gershuni - UBS
Just a couple of quick questions here, I mean, you have provided so much detail on our Analyst Day. I am buried in ideas here that I want to ask about. But just to start off, you talked about looking at distressed opportunities and so forth. Are there any specific areas where you are looking to invest more? Is AmeriGas becoming a target, as an area that add gallons more aggressively or you are looking at energy services Europe and so forth? Or is it just really whatever the [MPV] says?
Lon Greenberg
I think as I learned well from, if you saw at our Annual Meeting yesterday, Dick Bond, who is one of our senior executives for many years. When he was asked a question like that, he would say yes and so, and in a sense the answer truly is, yes. But we have said many times, we will pursue opportunities within our overall vision of an energy market or distributor.
We do see potential opportunities across the broad spectrum of all of our businesses, internationally in propane, domestically in propane, as well as, in the utility and energy services area. So we don't have any favorites and the last comment you made is an important one, that is, they all have to have an IRR, that's satisfactory to us, that contributes as oppose to detract some valuation, and finally, that is something that from an earning standpoint make sense. So, I cannot identify any specific areas for you.
Shneur Gershuni - UBS
Is it looking wiper or people are approaching you guys, like you are looking at more opportunities, now?
Lon Greenberg
Notwithstanding the press recounts on the death knell of investment banking, I can tell you that certainly the people we know and have dealt with over the years are still alive and well, and kicking and so. A lot of things come in through, they trends some, they come in through more formal meetings. But we have our ears to the ground we have development people out kicking the tiers, as well. So there is no specific way they come in, but they do come in.
Shneur Gershuni - UBS
Okay. You had mentioned in your prepared remarks about, the ZHL you are taking them out of -- you are ending the joint venture and so forth.
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