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-Goldman unit takes stake in Indian insurance company.

Global Banking News-June 14, 2011--Goldman unit takes stake in Indian insurance company(C)2011 ENPublishing -

Global Banking News - 14 June 2011

A unit of Goldman Sachs (NYSE: GS) has taken a stake in an Indian insurance company, Max India.

Xenok Ltd, a unit of Goldman Sachs Capital Partners VI Fund, has acquired a 9.1 percent equity stake in Max India, for around INR5.22bn, through conversion of debentures.

The Indian firm allotted around 24 million equity shares to Xenok Ltd.

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Publication:Global Banking News (GBN)
Date:Jun 14, 2011
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