Goldman, Khazanah among investors nearing Huarong deal

  • Banking
  • Wednesday, 23 Jul 2014

A sign of US bank Goldman Sachs on the floor of the New York Stock Exchange. The bank and Warburg Pincus are among investors said to be close to a deal to buy 20% in China Huarong Asset for US$2bil. - EPA

HONG KONG: Goldman Sachs and private equity firm Warburg Pincus are among the investors nearing a deal to buy an up to 20% stake in China Huarong Asset Management Ltd for about US$2bil (RM6.25bil), seeking a share in the profitable business of bad loan management in China.

Other investors preparing to buy into China’s biggest manager of non-performing loans include Malaysian state investor Khazanah Nasional Bhd, China state-backed CITIC Group, China International Capital Corp (CICC), conglomerate Fosun Group and China state-backed COFCO Corp, the people familiar with the matter told Reuters.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Business , Banking , khazanah


Next In Business News

US Q2 GDP growth unrevised at 2.1%; weekly jobless claims edge higher
Gold holds near 6-month low as higher US rates bite
Temasek unit raises US$3.3bil in flagship fund investing in China
Sime Darby Plantation partners India's Godrej Agrovet
PayNet clarifies on DuitNow QR imposition concerns
HSBC to acquire Citigroup China consumer wealth business -sources
Singapore govt announces additional US$802mil to ease cost of living
Australia job vacancies tumble from record levels in latest quarter
X CEO Yaccarino says Musk-owned platform could turn a profit next year
Dollar shines as oil surge spooks investors

Others Also Read