Merrill Lynch completes Entergy-Koch takeover

The energy trading business will operate as Merrill’s Global Commodities group, a unit of the Global Markets & Investment Banking group. The EKT management team will continue to run the business.

EKT has not divulged the value of the sale, although David Trone, an analyst at financial group Prudential Financial, has valued the business at around $1 billion. EKT’s natural gas pipeline and storage business is not included in the transaction, but the joint venture is offering it for sale.


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