Wednesday, 29 January 2014

JPMorgan could decide on buyer for commodities unit this week

  • JPMorgan (JPM) could choose a winner this week in the auction of its commodities unit, which has attracted interest from Blackstone (BX), Macquarie (OTC:MCQEF) and Mercuria Energy, Bloomberg reports.

  • The business could fetch $2B, below the $3.3B JPMorgan was apparently looking for when it put the business on the block.

  • The firm is selling the operations amid increasing scrutiny of banks’ commodity operations following allegations of problematic practices. (Previous)

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