TORONTO, April 3 Royal Bank of Canada
said on Wednesday it has acquired the privately held Athena
Energy Group, in a move to expand its commodities sales and
Canada's largest bank said its acquisition of Athena Energy,
a leading natural gas supplier in Quebec, will help expand its
own existing business that now offers structured pricing for
natural gas supply from Ontario into Quebec.
"This acquisition builds on our existing presence in the
market and positions us well for the future," Bruce Macdonald,
RBC Capital Markets' head of commodities & electronic trading,
said in a statement.
The terms of the deal were not disclosed.
St. Leonard, Quebec-based Athena is made up of two sister
companies, Athena Energy Marketing and Athena Energy Services.
The company has longstanding relationships with more than 400
commercial and institutional clients in Quebec.