Goldman Sachs Announces Sale of Majority Stake in Rothesay Life

  Goldman Sachs Announces Sale of Majority Stake in Rothesay Life

Business Wire

NEW YORK -- October 22, 2013

The Goldman Sachs Group, Inc. (NYSE:GS) today announced the sale of a majority
stake in its UK pensions insurance business Rothesay Life. Funds managed by
Blackstone and GIC each acquire 28.5% of the shares, with MassMutual acquiring
a 7% holding. Goldman Sachs retains a 36% stake. The transaction is subject to
regulatory approval.

Michael Sherwood, Vice Chairman of The Goldman Sachs Group, Inc., said:
“Rothesay Life's success has now brought it to a size at which it is more
capital-efficient for Goldman Sachs to share its ownership with other
investors. As a market leader in a dynamic industry, Rothesay Life can
continue its growth as a standalone business with the benefit of diversified
ownership. We are pleased to remain the largest shareholder alongside three
world class investors.”

The Goldman Sachs Group, Inc. is a leading global investment banking,
securities and investment management firm that provides a wide range of
financial services to a substantial and diversified client base that includes
corporations, financial institutions, governments and high-net-worth
individuals. Founded in 1869, the firm is headquartered in New York and
maintains offices in all major financial centers around the world.

Contact:

The Goldman Sachs Group, Inc.
Media:
Jake Siewert, 212-902-5400
Investors:
Dane Holmes, 212-902-0300
 
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