Goldman Sachs Group is moving to acquire 100% ownership of its securities joint venture in China, deepening its investment in the world’s second-largest economy after partnering with a domestic brokerage for 17 years.
The New York-based bank is applying with Chinese regulators to take full control of Goldman Sachs Gao Hua Securities and has signed an agreement to acquire the 49% share of the venture it doesn’t own, according to an internal memo seen by The Wall Street Journal.
