Morgan Stanley Agrees to Sell Wentworth to Pentagon Energy
(Bloomberg) — Morgan Stanley agreed to sell a compressed natural gas business that came under regulatory scrutiny last year to Pentagon Energy LLC.
Pentagon, a newly formed commodities-trading company based in Coral Gables, Florida, will purchase Morgan Stanley’s Wentworth Gas Marketing unit, the acquiring firm said Monday in an e-mailed statement that didn’t disclose terms. Ryan Comerford and Alberto Chiesara are leaving the New York-based bank to join the new company as principals, according to the statement.
Jay Rubenstein was named head of natural gas origination and trading at Morgan Stanley in January, according to a person familiar with the move. He replaces Chiesara and Comerford, said the person, who asked not to be identified discussing personnel matters.