ICE Buys ChemConnect’s Commodity Business

Intercontinental Exchange (ICE; Atlanta), an electronic energy marketplace, says it has agreed to acquire ChemConnect’s (Houston) commodity trading division in an all-cash transaction. Financial terms were not disclosed. ICE says it expects to close the deal by the middle of July. ChemConnect’s commodity trading business is a leading electronic marketplace for natural gas liquids (NGLs), and chemicals including ethylene, propylene, and benzene, ICE says. The company says it will move ChemConnect’s products and customers to the ICE platform. NGL...

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