UBS takes on El Paso's risk
UBS has acquired a 'significant portion' of El Paso Marketing's (EPM) non-core merchant natural gas portfolio, the bank announced.
The deal sees EPM, a wholly owned subsidiary of El Paso Corporation, transfer a portfolio that includes approximately 200 physical and financial natural gas positions across eastern US and Canada to UBS. This allows EPM to transfer the substantial physical risk associated with such supply transactions to UBS.
The transaction also enables El Paso to move towards exiting
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