Castleton Commodities International LLC Completes Acquisition of Morgan Stanley’s Global Oil Merchanting Business
Castleton Commodities International LLC (“CCI” or the “Company”) today
announced that it has completed its acquisition of Morgan Stanley’s
Global Oil Merchanting business, one of the world’s leading physical
commodity franchises.
William C. Reed II, President and Chief Executive Officer of CCI, said,
“With the acquisition of Morgan Stanley’s Global Oil Merchanting
business, we have taken a giant step toward achieving our long-term
strategic objective of establishing ourselves as a top tier diversified
global commodities merchant. We are excited to welcome our new
colleagues to the company as we continue to leverage our world class
capital base to expand our business beyond the North American energy
markets.”
Morgan Stanley’s Global Oil Merchanting business is a leading global
platform and is active in the light ends, distillates, crude and wet
freight markets. Over the past five years, the unit has traded
approximately two million barrels of oil and oil products per day.
About Castleton Commodities International LLC
CCI is a global commodities merchant with an integrated set of
operations consisting of physical and financial commodities trading and
the ownership, operation, and development of commodities-related
upstream and infrastructure assets. The Company markets a broad range of
physical commodities including natural gas, natural gas liquids, refined
products, crude oil, fuel oil, freight, petrochemicals, electric power,
coal, metals and financial instruments related to commodities. CCI is
headquartered in Stamford, Connecticut with offices in Houston, Texas;
Calgary, Canada; Geneva, Switzerland; London, United Kingdom; Shanghai,
China; Singapore; and Montevideo, Uruguay.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151102005565/en/
Copyright Business Wire 2015
Source: Business Wire
(November 2, 2015 - 8:30 AM EST)
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