Goldman Sachs has today acquired specialist lender Money Partners Holdings Limited following a strategic review by the group.
Money Partners, in which Kensington Group previously held a 57.5% stake, has been sold outright to Goldman Sachs for an undisclosed sum.
In late 2007 the lender appointed a team of advisers from PricewaterhouseCoopers to undertake a strategic review which concluded with the sale to Goldman Sachs.
Colin Sanders, chief executive officer of Money Partners, says: “The sale of Money Partners represents a satisfactory outcome to the strategic review we initiated last year.
"Looking ahead, we believe the market will be challenging in the short-term as the effects of the global credit crunch continue to be felt. But we remain optimistic about its prospects over the longer term.”
No further details on the reason for the sale are currently available.
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