Goldman Sachs Expected to Take Large Losses on $2.24 Billion Acquisition of Fintech Lender GreenSky in 2021, Potential Buyers Include KKR, Apollo, Warburg Pincus & Sixth Street Partners, McKinsey Partner Pleaded Guilty to Insider Trading
24th June 2023 | Hong Kong
Goldman Sachs is expected to take large losses on its $2.24 billion acquisition of fintech lender Greenskyin 2021, with potential buyers including KKR, Apollo, Warburg Pincus & Sixth Street Partners. Goldman Sachs CEO David Solomon had acquired GreenSky for $2.24 billion in 2021 September to grow the consumer finance business. GreenSky was founded in 2006, proving technology to lenders to make loans to consumers. In 2018, GreenSky became publicly listed, with the company valued at around $4 billion. In December 2021, McKinsey partner Puneet Dikshi who had advised Goldman Sachs on the GreenSky transaction, pleaded guilty to insider trading, using confidential information to trade call options (day before takeover announcement), with $4,000 options worth $2 million after the announcement. Goldman Sachs has a current market capitalization of around $104 billion (23/6/23).
“ Goldman Sachs Expected to Take Large Losses on $2.24 Billion Acquisition of Fintech Lender GreenSky in 2021, Potential Buyers Include KKR, Apollo, Warburg Pincus & Sixth Street Partners, McKinsey Partner Pleaded Guilty to Insider Trading “
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