Report: Morgan Stanley in talks to sell oil unit to Rosneft


Morgan Stanley (MS -0.3%) reportedly is in talks to sell its global oil business to top Russian oil producer Rosneft (RNFTF), as the bank continues to explore options for the commodities business amid falling revenue and rising scrutiny from regulators who are reviewing banks’ activities in the sector.

Stanley's commodity business posted a return on equity of less than 5% in 2012, the lowest among its trading businesses, and the oil unit represents a major part of that.

Any sale probably would include TransMontaigne (TLP +1.2%), a petroleum and chemical transportation and storage company, and the bank’s 49% stake in Heidmar Inc., which manages ~100 oil and chemical tankers.

From other sites
Comments (2)
  • sportscliche
    , contributor
    Comments (248) | Send Message
     
    Long expected. They've made no secret that they're looking for a buyer for TransMontaigne.
    20 Nov 2013, 04:02 PM Reply Like
  • reader
    , contributor
    Comments (326) | Send Message
     
    Could be good for TLP holders if someone local gets into the bidding.
    20 Nov 2013, 09:28 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs