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TIJM Chase (JPM) has secured a $1 billion investment from JPMorgan Chase & Co. (JCB), the Wall Street bank said Wednesday.
The deal, which could come as early as this week, comes after JCB invested $4 billion in JPMorgan Chase & Bank in January.
The investment in the bank comes as the financial giant is pushing to bolster its fleet of trucking trucks, which are used by trucking companies for a variety of tasks.TJM Chase, which has operations in several states, is in the midst of a $15 billion merger with United Parcel Service Corp. (UPS), the country’s largest delivery company.
