Goldman Sachs Stops Protesters From Entering Its Madrid Offices

  • Anti-eviction group spends over nine hours demonstrating
  • Group claims Goldman venture evicting low-income tenants

Goldman Sachs Group Inc.’s Spanish staff faced an hours-long demonstration by anti-eviction activists who sought to break into its Madrid offices in a protest over the firm’s investment in low-income housing earlier this decade.

More than 100 people joined the protest led by the PAH anti-eviction group, which started at about 11 a.m. in central Madrid, according to a statement from the group. The demonstration continued until at least 6:30 p.m., with protesters standing in the lobby of the building where the Wall Street firm has its offices, as well as on the sidewalk.

“Protesters did not enter the office," Sebastian Howell, a press officer for Goldman Sachs in London, said by phone, denying claims by PAH that the group “seized” the property.

Protesters yelled "shame, shame" at people leaving the building, which also houses firms including CaixaBank SA. Two police cars were stationed on the the street.

PAH said it was demanding that Goldman Sachs stop Encasa Cibeles, a venture in which the bank owns a stake, from evicting tenants from low-income housing. Encasa Cibeles is a venture formed between Goldman Sachs and Azora Capital SL, a private-equity firm, that bought the housing from the regional Madrid government during the nation’s economic crisis in 2013.

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