The Goldman Sachs Group GS today announced the sale of a
majority stake in its UK pensions insurance business Rothesay Life.
Funds managed by Blackstone BX and GIC each acquire 28.5% of the shares,
with MassMutual acquiring a 7% holding. Goldman Sachs retains a 36%
stake. The transaction is subject to regulatory approval.
Michael Sherwood, Vice Chairman of The Goldman Sachs Group, Inc., said:
“Rothesay Life's success has now brought it to a size at which it is
more capital-efficient for Goldman Sachs to share its ownership with
other investors. As a market leader in a dynamic industry, Rothesay Life
can continue its growth as a standalone business with the benefit of
diversified ownership. We are pleased to remain the
See full press release
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in