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Goldman Sachs Stuck With Burberry Shares After Billionaire Sale | Tony Seruga
May
09

Goldman Sachs Stuck With Burberry Shares After Billionaire Sale

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Billionaire Albert Frere’s Groupe Bruxelles Lambert SA selected Goldman Sachs’s international unit to sell its 6.6 percent stake in Burberry for about 498 million pounds ($673 million). While the investment bank bought the shares at a discount of more than 4 percent to Tuesday’s closing price, the stock fell on the news and dropped as much as 7.8 percent in London. That left the firm holding shares at a paper loss, said the person, who asked not to be identified because the bank’s position isn’t public…

Goldman Sachs Stuck With Burberry Shares After Billionaire Sale

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