January 17, 2017 / 6:20 PM / 3 years ago

CORRECTED-Trump Commerce nominee Ross to divest assets worth up to $209 million

(Corrects valuation of assets in headline and first paragraph to as much as $209 million, not $187 million. Corrects in last paragraph that he is resigning positions at 22 companies, not 20)

WASHINGTON, Jan 17 (Reuters) - Wilbur Ross, President-elect Donald Trump’s nominee for Commerce Secretary, has pledged to divest assets worth about $77 million to $209 million and resign his corporate board seats, but the billionaire investor intends to retain his interests in mortgage lending and transoceanic shipping.

In an ethics agreement made public on Tuesday, Ross said he would divest financial interests in some 80 entities, including specific stocks, bonds and investment partnerships.

He said he will resign from positions in nine business entities that he is retaining. He will resign positions at 22 business entities that he is divesting, including his board seats at steelmaker ArcelorMittal, Bank of Cyprus and chemicals and plastics distributor Nexeo Solutions Inc. (Reporting by David Lawder; Editing by Cynthia Osterman)

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