National Australia Bank to Buy 80.1% Stake in Goldman Sachs Brokerage Unit
National Australia Bank announced that it will be buying an 80.1% stake in Goldman Sachs JBWere, the US-based investment bank's Australian private brokerage. The deal, worth A$99 million ($82 million), will be paid in Australian Dollars, but upon receipt, Goldman Sachs may convert the cash to US Dollars. Such a case would be positive for the greenback and may add life to the currency.
- Asian Stocks Surge Higher as Goldman Sachs Raises Toyota to Buy, Kirin Bids For Lion Nathan
- Are Islamic finance's non-Muslim adherents 'pushing the limits'?
- Euro Threatened as Stocks Back Down, German CPI Points to Deflation (Euro Open)
- Asian Stock Markets Surge Higher, Led by Financials and Rising Commodity Prices
- Time for an Arab takeover of the Israeli venture? Rumor has it that Viber hired Goldman Sachs to help it sell itself