JP Morgan and RBS Sempra Commodities agree $1.7bn deal
RBS Sempra Commodities has sold its global oil, global metals, and European power and gas assets to JP Morgan for $1.7 billion.
The assets will be integrated into JP Morgan’s existing global commodities business after the transaction closes in the second quarter of 2010 (pending regulatory approval). The Royal Bank of Scotland Group (RBS) will receive a 47% share of the $1.7bn purchase price. RBS made an initial investment of $1.7bn in the business.
Blythe Masters, head of global commodities at JP Morgan, says: “We are pleased to welcome the talented employees of RBS Sempra Commodities to JP Morgan. The skills and
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