February 4, 2013 / 10:45 PM / 5 years ago

Oil trader Mercuria hires Credit Suisse for partial sale-FT

NEW YORK, Feb 4 (Reuters) - Mercuria Energy Trading has hired Credit Suisse as part of its efforts to attract institutional investors for a partial sale, the Financial Times reported on Monday.

The independent Swiss-trading firm plans to remain private for now, , but will likely seek between two and four institutional investors, the FT reported on its website, citing people familiar with the company’s plan.

In late January, Mercuria President Marco Dunand said the company was seeking to sell up to a fifth of itself to a strategic investor within the next six months.

Credit Suisse declined to comment. Officials from Mercuria, one of the world’s top five energy traders, were not immediately available for comment.

The firm’s turnover was around $100 billion in 2012 and it traded 156 million tonnes of crude oil and products. In 2011, the revenue was around $75 billion and $47 billion in 2010.

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