Goldman Sachs: takes control of JV GSGH
(CercleFinance.com) - Yesterday Goldman Sachs announced that it has received approval from the China Securities Regulatory Commission (CSRC) to take full ownership of Goldman Sachs Gao Hua Securities Company Limited (GSGH).
As a result, Goldman Sachs is acquiring the portion of GSGH that it did not already own, a move that marks the beginning of a new chapter for its China business after a successful 17-year joint venture.
Obtaining full ownership of GSGH will enable it to position itself for long-term growth and success in this market under a single wholly-owned entity, which will be renamed Goldman Sachs (China) Securities Company Limited, the bank said.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
As a result, Goldman Sachs is acquiring the portion of GSGH that it did not already own, a move that marks the beginning of a new chapter for its China business after a successful 17-year joint venture.
Obtaining full ownership of GSGH will enable it to position itself for long-term growth and success in this market under a single wholly-owned entity, which will be renamed Goldman Sachs (China) Securities Company Limited, the bank said.
Copyright (c) 2021 CercleFinance.com. All rights reserved.