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JP Morgan moots Cazenove buyout
JP MORGAN and its joint venture partner Cazenove are understood to be weighing up an agreement that would see Cazenove sell its interest in the company to the US bank.
Under the terms of the deal that saw Cazenove and JPMorgan Chase launch the venture in 2005, JPMorgan has an option to call, and Cazenove the option to put the stake from February 2010.
But executives including Cazenove chairman David Mayhew and chief executive Naguib Kheraj, are believed to be discussing their plans already, with a view to striking a deal prior to the February watershed.
JP Morgan Cazenove said: “Neither party has expressed its intentions as to whether or not it will exercise its call or put option.”