Dutch giant Shell informed that it has acquired Morgan Stanley’s European natural gas and power trading portfolio through its Shell Energy Europe unit.
The company said that the deal comprises predominantly physical and financial gas and power trades, Reuters reports.
A binding sales and purchase deal was signed between Morgan Stanley and Shell Energy Europe, but the company did not reveal the price of the acquisition.
As Shell’s spokeswoman Sarah Bradley told Bloomberg, no personnel were involved in the transaction.
LNG World news Staff