UPDATE 2-Jefferies exits commodities brokerage with Bache book sale

April 9, 2015 4:50 PM

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April 9 (Reuters) - Jefferies Group LLC said it will sell most of its Bache unit's commodities and financial derivatives accounts to Societe Generale, ending the investment bank's four-year foray into the competitive brokerage business.

The deal to transfer accounts ends a months-long effort by Jefferies, owned by Leucadia National Corp, to divest the unit as it struggles with high costs and falling fees.

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