Goldman Sachs Group Inc. said on Wednesday it had applied to boost the stake in Goldman Sachs Gao Hua Securities Co. - its investment banking joint venture in China - to 51 per cent, the maximum permitted, from 33 per cent previously.
Beijing Gao Hua Securities Co., controlled by veteran Chinese banker Fang Fenglei and Legend Holdings, currently owns 67 per cent of the JV.
Taking full control of its China business would bring the New York-based firm closer to former . . .
To continue reading, please subscribe. You will get
- IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
- THE WIRE - up-to-the-minute updates of market-moving news and views. We want you to be the first to know it when something important happens.
- DETAILS - We bring you details that you won't find elsewhere. General information is everywhere, but information with details and relevant to your investment is rare.
Grab the Special Offer ! Get Yuan Talks full service at $0.6 a day!
We highly value independence. We are solely funded by subscriptions from intelligent readers like you.
Already have an account? Sign In