NEWS

INVESTMENT BANKING | Jason Oliver, Australia
Published: 30 Jul 09
521 views
If Goldman is selling, why is NAB buying?

If Goldman is selling, why is NAB buying?

Goldman Sachs is not known for getting the bad end of a deal, so it may be a surprise to learn Australia's NAB is buying its wealth management business for A$99 million.

Approximately worth US$82 million, the deal will be paid by NAB in Australian dollars for purchasing an 80.1 percent stake in Goldman Sachs JBWere. According to a report by DailyFX, Goldman Sachs may in turn convert the payment to US dollars, adding life to the currency.

Goldman Sachs JBWere is the Australian private brokerage of Goldman Sachs.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

MORE FROM GOLDMAN SACHS
Goldman Sachs to sell $1.1b shares in Industrial & Commercial Bank of China
Goldman Sachs to sell $1.1b shares in Industrial & Commercial Bank of China This is Goldman’s third sale of its ICBC stock since 2006.
Busted! Goldman Sachs ex-director Gupta screwed for fraud
Underdog no more: Goldman Sachs beats other firms as top Japanese M&A adviser
Will Temasek take another bite at the Chinese Banks?
MORE FROM NAB
NAB CEO allays fears on home loan debt
NAB CEO allays fears on home loan debt Clyne said the current European financial crisis has yet to affect its funding costs.
Top 4 Australia banks ride on China’s growth
NAB plans slashing exit fees for home loan switchers
NAB opens access to more BNY services
NAB, Santander move ahead in RBS unit sale
COMPANIES FEATURED
Goldman Sachs
NAB
TOP NEWS
Banks lead record Philippine Stock Exchange surge
Banks lead record Philippine Stock Exchange surge A strong rally yesterday led by banks pushed the Philippine Stock Exchange Index to a record 4822.08 points, up by  2.3%.
Japan’s second largest lender posts jaw dropping loss
Agribank begins massive restructuring
Agribank to restructure, revert focus to agri, rural devt
Bankers probe for more efficient custody & clearing platforms
OTHER INVESTMENT BANKING NEWS
Credit markets may have been too pessimistic
Credit markets may have been too pessimistic Beyond the noise generated by the European sovereign debt crisis and the seemingly unending debate about reducing the U.S.
Japan’s second largest lender posts jaw dropping loss
HSBC continues retail banking restructuring
European banks slow down lending in ominous omen
Bankers beware: World economy faces catastrophic 2012
SIGN UP FOR NEWSLETTER
MAGAZINE
AWARDS & EVENTS
FOLLOW US
EVENTS CALENDAR
PRINT EDITION HIGHLIGHTS