Putin Authorizes Purchase of Goldman Sachs' Russian Unit by Balchug Capital
MOSCOW (Reuters) - A government decree published Friday reveals that President Vladimir Putin has approved the acquisition of Goldman Sachs' Russian unit by investment company Balchug Capital.
Amidst ongoing sanctions, Moscow has implemented stringent regulations on foreign asset sales, mandating presidential approval for any such transactions. Sources close to the situation confirm Goldman Sachs' binding agreement to divest its Russian subsidiary, subject to specific conditions.
Reached for comment, Balchug Capital, an Armenian investment fund, provided no immediate response. David Amaryan, the fund's CEO and founder, oversees all investment activities. Notably, the company secured the purchase of Caterpillar's Russian assets last year.
(Reporting by Reuters and Alexander Marrow; Written by Anastasia Teterevleva; Edited by Andrew Osborn)