Home Stock Market Goldman Sachs seeks full control of its China securities joint venture

Goldman Sachs seeks full control of its China securities joint venture

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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.