October 24, 2021

Goldman Sachs shifts to full ownership of China securities joint venture

Goldman Sachs shifts to full ownership of China securities joint venture

Goldman Sachs shifts to full ownership of China securities joint venture

By Scott Murdoch
20 December 2020

HONG KONG (Reuters) – Goldman Sachs Group Inc has signed a pact to buy out its China joint venture partner to make it the most advanced foreign bank to take full ownership of a mainland securities business.

The process to boost its stake in the Goldman Sachs Gao Hua (GSGH) venture from 51% to 100% has also been initiated with regulators, according to an internal memo issued on Tuesday to staff of the Wall Street bank.

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