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October 10, 2013

JPMorgan launches $3.3 billion physical commodity business sale

JPMorgan Chase & Co (JPM.N) has launched the sale of its physical commodities business, circulating offering documents to potential buyers and valuing the assets at $3.3 billion, according to a person familiar with the matter.

JPMorgan’s sales pitch comes after the bank announced it was exiting physical commodity trading in July, as Wall Street faces heightened scrutiny from regulators and politicians on their role in the natural resources supply chain.”

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Read full Reuters article here

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