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Reply #40: JPMorgan Said to Buy MF Global Stake in London Metal Exchange [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-23-11 09:40 AM
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40. JPMorgan Said to Buy MF Global Stake in London Metal Exchange /

LONDON JPMorgan Chase has agreed to buy a 4.7 stake in the London Metal Exchange for 25 million, or $38.9 million, from the bankrupt brokerage MF Global, according to people with knowledge of the deal.

JPMorgan purchased MF Globals holdings in the London-based company through an auction run by accountancy KPMG. The deal is expected to be announced by early next week.

The deal values the London Metal Exchange between 530 million and 560 million, although JPMorgan bought the position at a discount, according to a person with the knowledge of the deal.
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