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Tuesday, November 19, 2013

REFILE-Goldman nears deal for events company PSAV -sources, (NYSE: GS)

Goldman Sachs Group Inc's private equity arm is nearing a deal to acquire events services company PSAV Presentation Services for close to $900 million, according to people familiar with the matter.The deal for the company - currently owned by private equity firm Kelso & Co - could be announced as early as this week, one of the people said. Kelso acquired PSAV for $413.4 million in 2007.PSAV is the largest provider of audiovisual services to the U.S. hotel industry and helps coordinate events and meetings using high-definition projectors and plasma screens.The Long Beach, California-based company has earnings before interest, tax, depreciation and amortization of between $130 million and $140 million, people have previously told Reuters.

The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.72% or $1.19/share to $166.87. In the past year, the shares have traded as low as $115.62 and as high as $170.00. On average, 3280680 shares of GS exchange hands on a given day and today's volume is recorded at 1924399.