US to get $936 mn for JPMorgan Chase warrants

WASHINGTON: The US Treasury said Friday it expected to get 936 million dollars from warrants in banking giant JPMorgan Chase, under a previously announced divestment.

The Treasury announced the results of an auction to 88 million warrants -- which are a type of option allowing additional share purchases -- in JPMorgan Chase to end the government investment in the banking giant under last year's financial system rescue.

The closing of the deal is expected December 16.

"These proceeds provide an additional return to the American taxpayer from Treasury's investment in the company beyond the dividend payments it received on the related preferred stock," a Treasury statement said.

In June, major banks began repaying the US Treasury for capital injected into the financial system during the height of the crisis.

JPMorgan Chase in June repaid the government for its 25-billion-dollar capital injection.