JPMorgan To Sell Commodities Unit For $3.5 Billion

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JPMorgan Chase said on Wednesday that it had agreed to sell its physical commodities trading unit to the Mercuria Energy Group, a fast-growing Swiss trading firm, for $3.5 billion in cash. The deal concludes a monthslong effort to sell the unit, as Wall Street banks move to get out of the business of physical commodities trading amid tighter scrutiny from regulators.

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