Goldman Sachs to acquire 100% ownership of China joint venture

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Goldman Sachs plans to acquire 100 per cent of its mainland Chinese joint venture, the latest global bank to seek full control of its business as Beijing further opens up the financial sector.

The American investment bank signed a definitive agreement with its partner, Beijing Gao Hua Securities, to acquire the outstanding shares of Goldman Sachs Gao Hua it does not already own and began the formal process with regulators to take full ownership of the joint venture, according to an internal memorandum.

“One hundred per cent ownership of our franchise on the mainland represents . . .

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