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Article: United Kingdom: Sempra says RBS may sell stake in commodities venture.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: manish03
Sempra Energy said Monday that Royal Bank of Scotland Group disclosed it may have to sell its majority interest in the RBS Sempra Commodities joint venture, as part of a massive restructuring looming for the U.K. lender.
One of the more profitable components of San Diego-based Sempra Energy's business, RBS Sempra Commodities includes Sempra Energy Trading, RBS Sempra Metals and Sempra Energy Solutions. Royal Bank of Scotland bought a 51% stake in RBS-Sempra for $1.7 billion in April 2008. Sempra Energy's initial investment in the company was $1.6 billion.
Sempra , best known as the parent of San Diego Gas & Electric as well as ...