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November 19, 2013

Goldman set to step up warehouse sale talks

“Goldman Sachs is likely to step up discussions over a sale of its metals warehousing business having received numerous expressions of interest, according to people familiar with the situation.

The move comes as the US Federal Reserve is reviewing the extent to which banks are permitted to trade physical commodities and own commodity infrastructure.

New rules announced by the London Metal Exchange this month have made it easier to value the warehousing unit and negotiate a sale, the people said.

More than a dozen parties have expressed an interest in buying the business, Metro International Trade Services, since the summer.”


Read full Financial Times article here

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