Sempra Energy (NYSE:SRE) and The Royal Bank of Scotland (NYSE:RBS) announced they've sold their Sempra Energy Solutions to Noble Group for the assumption of debt $265 million in and $317 million in cash.
The Sempra Energy Solutions unit was the retail commodity marketing arm of the joint venture between the two companies.
RBS-Sempra Commodities sold their global metals and oil business to JPMorgan Chase (NYSE:JPM) in July, along with its European natural gas and power business, which was the first step in the sale of assets by the joint venture.
RBS and Sempra said their final asset sale of the joint venture, the North American wholesale power and natural gas business, is in the latter part of negotiations.
The deal with Noble should close sometime in the fourth quarter.
RBS as been required to sell some of its assets in response to antitrust concerns in the European Union.
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