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Merrill Lynch completes Entergy-Koch takeover

Investment bank Merrill Lynch today completed its acquisition of Entergy-Koch Trading (EKT), a venture of New Orleans-based energy company Entergy Corp and Kansas-based Koch Industries (see Energy Risk , October 2004, p.6).

    • Joe Marsh
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The energy trading business will operate as Merrill’s Global Commodities group, a unit of the Global Markets & Investment Banking group. The EKT management team will continue to run the business.

EKT has not divulged the value of the sale, although David Trone, an analyst at financial group Prudential Financial, has valued the business at around $1 billion. EKT’s natural gas pipeline and storage business is not included in the transaction, but the joint venture is offering it for sale.

The

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