Mercuria Energy Group announced it successfully completed the acquisition of JP Morgan Chase Physical Commodities Business.
As part of the acquisition, Mercuria acquires Henry Bath, the historic metals warehousing, storage, and handling business. Mercuria will operate Henry Bath as a stand-alone subsidiary independent from its trading operations.
“When we founded Mercuria 10 years ago, it was our goal to develop a global energy-focused commodities group,” said Marco Dunand, CEO of Mercuria. “This acquisition helps to bring that vision to reality by building upon our physical power, gas and oil operations in North America and by adding to our client base. J.P. Morgan’s talented professionals and physical assets in the power and gas markets are highly complementary to the group’s existing activities and assets.”
Mercuria’s expertise covers all segments of the energy market, including associated environmental products, and extends to iron ore, dry-bulk freight, base metals and petrochemicals. The group also invests in upstream oil, gas and coal mining assets around the world.