Goldman Sachs Venture Applies to Sell Assets to Shuanghui

A Goldman Sachs Group Inc. (GS) venture applied to sell assets to Henan Shuanghui Investment & Development Co., according to a statement from Henan Shuanghui to the the Shenzhen exchange.

The China Securities Regulatory Commission accepted the application from Rotary Vortex Ltd., a venture between Goldman Sachs and CDH China Growth Capital Fund.

Henan Shuanghui said in November it plans to buy slaughterhouses and meat-processing assets valued at 33.9 billion yuan from two shareholders, including Rotary, through stock and asset swaps.

Rotary holds 51 percent of Henan Shuanghui and 100 percent of Shuanghui Group, parent of Henan Shuanghui, according to a statement from Henan Shuanghui in November. Goldman Sachs holds a 51 percent in Rotary, according to the November statement.

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net

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