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Why JPMorgan is selling commodities business

Posted on 20 March 2014

Banking powerhouse JPMorgan Chase & Co. has agreed to sell its commodities business to giant Swiss commodities house Mercuria Energy Group Ltd., reports the Wall Street Journal.
JPMorgan, the biggest U.S. bank by assets, initially valued its commodities unit at $3.3 billion back in October 2013, when it first warmed to a potential sale. Terms of the deal with Mercuria aren’t yet public, though the deal could be done by summer, according to sources cited by the Journal………………………………………..Full Article: Source


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