NEW YORK (AP) — JPMorgan Chase said Friday that it has completed the sale of most of its physical commodities business after revising its original deal with Mercuria Energy and finding additional buyers.
The banking company did not disclose the revised terms of the deal.
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JPMorgan Chase had previously agreed to sell the business to energy and commodities trading company Mercuria Energy Group for $3.5 billion.
But it said Friday that it sold some assets in the previously announced deal with Mercuria to other buyers. It did not disclose the identities of those buyers or say if the overall sale price changed.
The New York-based company said it sold or liquidated almost all of the assets that were part of the original deal with Mercuria.
JPMorgan Chase & Co. shares rose $1.52, or 2.6 percent, to $60.36 in late afternoon trading Friday.
