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Commodities Briefing - Categorized | Financial, Market Moves more

J.P. Morgan to sell commodities business for $3.5 bln

Posted on 20 March 2014

J.P. Morgan Chase & Co. has become the latest bank to scale back its commodities business, striking a deal to sell its physical assets and trading arm to Swiss trader Mercuria Energy Group Ltd. for $3.5 billion in cash.
The deal, expected to be completed in the third quarter, marks the largest ever acquisition completed by Mercuria, a closely held company founded in 2004 by Swiss traders Marco Dunand and Daniel Jaeggi that is relatively unknown outside the physical commodities trading industry………………………………………..Full Article: Source


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