Morgan Stanley agrees to sell gas marketing business

Morgan Stanley agreed to sell a compressed natural gas business that came under regulatory scrutiny last year to Pentagon Energy.

Bloomberg News reports that Pentagon, a newly formed commodities-trading company, will purchase Morgan Stanley’s Wentworth Gas Marketing unit, the acquiring firm said Monday in an e-mailed statement that didn’t disclose terms.

Ryan Comerford and Alberto Chiesara are leaving the bank to join the new company as principals, according to the statement.

Jay Rubenstein was named head of natural gas origination and trading at Morgan Stanley in January, according to a person familiar with the move. He replaces Chiesara and Comerford, said the person, who asked not to be identified discussing personnel matters.

To access the complete Bloomberg News article hit the link below:

Morgan Stanley Agrees to Sell Wentworth to Pentagon Energy

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