JPMorgan Set To Sell Physical Commodities Unit To Mercuria

JPMorgan Chase & Co. (NYSE:JPM) is said to be selling its physical commodities unit to Switzerland-based Mercuria Energy Group Ltd. Citing people familiar with the developments, Andy Hoffman and Hugh Son of Bloomberg report that the deal could be announced as early as today. JPMorgan efforts to sell non-core assets As reported by ValueWalk earlier, last year JPMorgan Chase & Co. (NYSE:JPM) launched a firm-wide effort to sell off ‘non-core’ assets. In July, the Federal Reserve indicated that it is reviewing its landmark 2003 ruling that allowed regulated banks to trade in physical commodities markets. The regulator’s move would affect the…