Goldman Sachs Moves to Acquire 100% of China Securities Joint Venture

Goldman Sachs Group Inc. is moving to acquire 100% ownership of its securities joint venture in China, deepening its investment in the world’s second-largest economy 17 years after setting up shop with a domestic partner.

The New York-based investment bank is applying with Chinese regulators to take full control of Goldman Sachs Gao Hua and has signed an agreement to acquire the 49% share of the venture it doesn’t now own, according to an internal memo seen by The Wall Street Journal.

Goldman is the first global bank to seek full ownership of its securities business in China, and intends to rename it Goldman Sachs (China) Securities Co.

Write to Jing Yang at [email protected]

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