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In 2004 Merrill Lynch & Co., the biggest securities firm by capital, bought Entergy-Koch LP's "energy trading unit, returning to a business that helped other banks boost revenue as energy prices soared.

"The price wasn't disclosed. Entergy Corp., the New Orleans utility owner that is 50-50 partners in Entergy-Koch with closely held Koch Industries Inc., said in a filing that it expects cash proceeds of about $1 billion from the sale of the trading unit and the venture's other business, a natural-gas pipeline." [1]

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