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.