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National Australia Bank to Buy 80.1% Stake in Goldman Sachs Brokerage Unit
Wednesday, 29 July 2009 01:29:05 GMT
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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.
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