September 6, 2018 / 7:03 PM / a month ago

Pinnacle Asset buys Sierentz Global Merchants' natgas trading business

(Reuters) - Commodities and natural resources investor Pinnacle Asset Management said on Thursday it had bought the North American natural gas wholesale trading business of commodities trader Sierentz Global Merchants.

Ben Sutton, who most recently served as head of North American Gas and Power at Noble Americas Corp, will serve as chief executive of the new business, which will be known as Six One Commodities, the company said in a statement.

Financial terms were not disclosed.

Sierentz, which is controlled by members of the Louis-Dreyfus family, was looking to exit its physical energy business, sources told Reuters in July.

Reporting by Swati Verma in Bengaluru; Editing by Richard Chang

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