Goldman, Khazanah among investors nearing Huarong deal

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.