Goldman Sachs to Wind Down Uranium Unit After Failing to Sell
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Goldman Sachs Group Inc. told a Congressional panel that it will wind down an uranium-trading unit after the bank didn’t receive acceptable bids when it put the business up for sale.
Goldman Sachs said it has stopped building inventory of physical uranium and will shut down the business over several years, according to a report released today from the Senate Permanent Subcommittee on Investigations on banks’ involvement in physical commodities. The unit will complete a supply contract that continues until 2018, according to the report.