Castleton Commodities International LLC Announces Acquisition of Morgan Stanley’s Global Oil Merchanting Business

Transforms CCI into one of the leading, full-service energy merchants in the world STAMFORD, Conn., May 11, 2015 /PRNewswire/ — Castleton Commodities International LLC (“CCI” or the “Company”) today announced that it has reached a definitive agreement to acquire Morgan Stanley‘s Global Oil Merchanting business, one of the world’s leading physical oil and products franchises. The purchase price of the transaction is not being disclosed. The all-cash transaction is expected to close in the second half of 2015 and among other conditions, it is subject to regulatory approvals in the U.S., the E.U. and certain other jurisdictions. “The acquisition of Morgan Stanley‘s Global Oil Merchanting business is an excellent strategic fit for CCI and it aligns well with our goal of becoming a top-tier, global multi-commodity merchant,” said William C. Reed II, President and Chief Executive Officer of CCI. “The business is a natural extension of our existing physical oil and products platform and is highly complementary to CCI’s strong position in North American power, natural gas and natural gas liquids. Furthermore, we are excited about adding a successful and seasoned group of professionals to our team to further drive our growth initiatives.” Tom Simpson and Fabrizio Zichichi from Morgan … continue reading

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Source: CTRM Center

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