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Thursday, July 17, 2014

Goldman entity sells 1.9 percent stake in India's Mahindra & Mahindra, (NYSE: GS)

Cyprus-based Golboot Holdings, a firm controlled by Goldman Sachs Group Inc sold 11.8 million shares, or a 1.91 percent stake, in Indian auto maker Mahindra and Mahindra Ltd via a block deal on the BSE exchange. The sale was carried out at an average price of 1,161.23 rupees a share, according to exchange data.The data also shows another Goldman entity, Goldman Sachs Singapore Pte, bought 4.26 million Mahindra and Mahindra shares, while Fidelity Destiny Portfolios Fidelity Advisor Diversified Stock bought 4.56 million shares.Golboot Holdings sold 7 million shares of Mahindra and Mahindra at 1,076.21 rupees each on the NSE on May 14.Mahindra and Mahindra said in May 2008 it had sold 7 billion rupees worth of convertible debt instruments to Golboot Holdings Ltd to fund its auto and tractor businesses.

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 remained unchanged at $170.47. In the past year, the shares have traded as low as $151.33 and as high as $181.13. On average, 2565050 shares of GS exchange hands on a given day and today's volume is recorded at 1792.