JPMorgan Chase (JPM) May Buy RBS Sempra Commodities

Bloomberg reports that JPMorgan Chase & Co. (NYSE: JPM) has nearly completed a deal to buy the non U.S. business operations of RBS Sempra Commodities LLP for $1.7 billion.

RBS is 84% government owned and the European Union ordered it to sell its 51% of BS Sempra Commodities before it would be allowed to receive billions of dollars in government aid.

Bloomberg cited two people, who it said were briefed on the talks, as saying the deal may be announced as soon as Tuesday.