Goldman Defended by Danish Lawmaker in Dong Buyout Dispute

Goldman Sachs Group Inc. is the right investor for Dong Energy A/S, a top official of Denmark’s ruling Social Democrats said, defending the Wall Street firm against criticism from other parliament members.

Goldman’s European merchant banking unit is seeking to buy an 18 percent stake in state-controlled Dong, a utility in need of new equity after losing money on failed natural gas bets. Some Danish lawmakers want to block the 8 billion-krone ($1.5 billion) purchase, saying Goldman Sachs bears responsibility for the global financial crisis and that the government is giving the New York-based company too much control.