Goldman to buy out Aussie JV

Investment bank Goldman Sachs said yesterday it was seeking to buy the remaining 55 per cent of its Australian and New Zealand joint venture that it does not already own. Goldman Sachs, which currently owns 45 per cent of the joint venture, said in a statement it had commenced a formal process to take its stake in Goldman Sachs & Partners Australia Group Holdings to 100 per cent. The bank’s Australian and New Zealand business has operated as a joint venture since 2003.