Tuesday, December 12, 2017

Morgan Stanley News

Morgan Stanley to Sell Global Oil Merchanting Business to CCI

Morgan Stanley said it would sell its Global Oil Merchanting business to Castleton Commodities International LLC, a privately held U.S. energy merchant, for an undisclosed sum. The sale includes a network of oil terminal storage agreements, inventory, physical oil purchase, sale and supply agreements and freight shipping contracts, Morgan Stanley said.

Morgan Stanley Exiting Solar Business with Fixed Income Cuts

Morgan Stanley is winding down a group that develops and structures North American solar projects as part of a plan to cut up to 25 percent of jobs in its fixed income business, people familiar with the matter said on Wednesday. A spokesman at Morgan Stanley declined to comment. Morgan Stanley is cutting around 1…

Morgan Stanley Focuses on Smaller, Smarter Trades

Nancy King, global head of commodities trading at Morgan Stanley, has spent the last few years remodeling what used to be one of the most profitable units on Wall Street, by downsizing and focusing on smaller, smart trades for customers instead of the big, risky bets it used to make on its own account.

Morgan Stanley Crude Oil Head Trader Resigns

Morgan Stanley's head of crude oil trading in New York, Tom O'Connor, resigned last week, a person familiar with the matter said. O'Connor was a managing director who ran the New York crude oil trading desk. He joined Morgan Stanley in 2000 as an associate, trading commodities. His departure follows that of Simon Fenner…

Goldman, Morgan Report Strong Commodity Results

Goldman says commodity revenue significantly higher; Morgan Stanley says "strong performance" bolstered FICC. Both banks may be benefiting from rivals scaling back. Goldman Sachs and Morgan Stanley both reported stronger net revenue in commodities trading during the first quarter on Thursday…

Morgan Stanley Has Stake in Pipeline Asset

Magnum Hunter Resources Corp said it will sell a stake in its natural gas gathering subsidiary in the Marcellus and Utica shale fields, to a unit of Morgan Stanley, giving the two co-ownership in the business valued at $1 billion. Morgan Stanley Infrastructure said it would pay Magnum…

Deutsche Bank Sells N.American Natgas Book to Morgan Stanley

Duetsche Bank has sold its North American natural gas trading book to Morgan Stanley, a source familiar with the deal said on Thursday. Deutsche Bank declined comment in an email to Reuters, while spokespeople for Morgan Stanley were not immediately available to comment. (Reporting by Barani Krishnan; Editing by Lisa Von Ahn)

Morgan Stanley Shedding Physical Oil Assets

Morgan Stanley Chief Financial Officer Ruth Porat said the bank is still committed to selling its physical oil business, even if its planned deal with Rosneft does not close. In an interview with Reuters, Porat said ithe bank plans to consider alternative ways to divest the business if the Rosneft deal is unsuccessful.

Rosneft Could Exit Morgan Stanley Oil Deal

Rosneft, Russia's biggest crude oil producer, may back out of a deal to buy Morgan Stanley 's oil trading unit because Western sanctions make it virtually impossible to finance day-to-day operations, three sources close to the state-controlled company said. The business in question trades…

Maher Joins Sanchez Energy Board of Directors

Sanchez Energy Corporation announced that Sean Maher was appointed to its board of directors on November 4, 2014. Maher will serve as an independent director and as a member of the Audit Committee, the Nominating and Corporate Governance Committee and the Compensation Committee of the Board.

Rosneft Deal to Buy Trading from Morgan Stanley Intact

Russia's top crude oil producer Rosneft said on Tuesday it aimed to complete deal to buy the majority of global physical oil trading operations from Morgan Stanley in the second half of 2014, as expected. Some industry watchers have expressed doubts the deal will go ahead due to Western sanctions on Russian officials…

BB Energy buys Morgan Stanley's Aussie Diesel Terminal

BB Energy has bought Morgan Stanley's diesel terminal in Australia as the oil trader expands outside its core European and Middle East markets, the trading company said on Tuesday. The U.S. bank and its peers JPMorgan Chase & Co, Deutsche Bank and Goldman Sachs have been selling their physical commodity interests after the U.S.

Shell Buys Morgan Stanley's Europe Gas & Power Trade Book

Royal Dutch Shell has acquired Morgan Stanley's European gas and power trading book as the U.S. bank continues its exit from the sector. Shell is set to significantly increase its footprint in the gas market in the coming years if it completes its proposed $70 billion acquisition of smaller…

Suitors Queue for Morgan Stanley's Madrilena Red de Gas

Three consortia have entered the second round in the race for Spanish gas distributor Madrilena Red de Gas, majority owned by Morgan Stanley, three sources familiar with the matter said on Wednesday. Canada's CPP is bidding alongside German insurer Allianz and the Abu Dhabi Investment Authority (ADIA) for the asset…

OW Bunkers Investors in Legal Action Against IPO Banks

A group of 24 Danish institutional investors in OW Bunker has decided to issue a writ against Carnegie and Morgan Stanley, accusing them of misleading investors ahead of the 2014 listing of the now bankrupt marine fuel oil supplier. The investors, which include two of the largest pension funds in Denmark…

Repsol exits Argentina with $1.26 billion YPF stake sale

Repsol sells 11.86 percent of YPF to Morgan Stanley; Says to make $622 million pretax capital gain. Sales follows Argentine compensation for 2012 YPF seizure. Spanish oil major Repsol bid farewell to 15 years of business in Argentina with the sale of a stake in energy firm YPF to Morgan Stanley for $1.26 billion on Wednesday.

OW Bunker Investors to Sue IPO banks

Institutional investors to sue Morgan Stanley, Carnegie. A group of institutional investors in OW Bunker said they plan to sue Morgan Stanley and Carnegie for about $80 million, accusing the two investment banks of misleading them ahead of the 2014 listing of the now bankrupt marine fuel oil supplier.

Former Morgan Stanley Chief Quits Rosneft board

John Mack, a former chief executive and chairman of Morgan Stanley, has left the board of Russia's top oil producer, Rosneft, for personal reasons, the Kremlin-controlled company said on Thursday. The departure of Mack, aged 69, after less than a year on the board, comes after the United…

Books for Pemex US Dollar Bond Reach US$30bn

Books for a new up to three-part US dollar bond from Petroleos Mexicanos have reached US$30bn, according to a lead on the deal. Pemex, the Mexican state-owned oil company, is selling a long 10-year bond with IPTs at 7% - low 7% and fixed and floating long five-year bonds with IPTs at 6% - low 6% and Libor equivalent.

Petrobras Announces New Bond, Debt Tender

Brazilian state-owned oil company Petrobras announced a new bond sale on Monday as it seeks to finance a debt tender. The company is approaching accounts with five and 10-year bonds at initial price thoughts of 6.5% area and 7.75% area, respectively. The deal is set to price later on Monday.