JPMorgan To Buy RBS Sempra Units For $1.7B

Law360, New York (February 16, 2010, 5:45 PM EST) -- JPMorgan Chase & Co. announced Tuesday a $1.7 billion deal to acquire the European and Asian operations of RBS Sempra Commodities, a joint venture between the Royal Bank of Scotland Group PLC and Sempra Energy, nearly doubling the size of JPMorgan's global commodities business.

In a statement, the financial giant said it expected to seal the deal sometime in the second quarter of 2010.

Sempra released a separate statement saying it expects its share of proceeds from the deal to approach $940 million, adding that final...
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