Goldman Sachs said on Thursday that it had offered to buy all of its joint venture in Australia and New Zealand for an undisclosed sum, driving further into a dynamic regional economy buoyed by commodities prices.
The investment bank owns 45 percent of Goldman Sachs & Partners Australia Group Holdings and is seeking to buy the remaining 55 percent from the venture’s current and former management. In order to complete the transaction, 75 percent of those executives need to approve the bank’s plan.
The Australian Financial Review reported that the deal valued the division at up to 1.2 billion Australian dollars, or $1.25 billion.
