Goldman Sachs Group Inc (GS) Financial News - Kerzner Said to Be in Talks on Extending $2.78 Billion of Hotel Mortgages
Goldman Sachs Group Inc (GS)
Kerzner Said to Be in Talks on Extending $2.78 Billion of Hotel Mortgages
WorldGoldman Sachs Group Inc. (GS)â€™s Whitehall Funds,
Colony Capital LLC and founder Sol Kerzner.
Blackstone Group LP and Kirkland & Ellis LLP are advising
the company on its ongoing restructuring talks while Centerview
Partners LLP is advising Sol Kerzner and Moelis & Co. is
advising Dubai World, one of the people said.
Brookfield Asset Management Inc. is among the holders of
Kerzner Internationalâ€™s mortgage debt, the people said. More
than $1.4 billion of the debt was sliced up and sold as bonds,
according to data compiled by Bloomberg.
Representatives of Blackstone, Kirkland and Moelis declined
to comment on the talks. Representatives of Kerzner and
Centerview werenâ€™t immediately available to return messages.
Kerzner, famous for Atlantisâ€™s Mayan-themed water slides
and up-close encounters with dolphins, sharks and rays, was
taken private in 2006 for $3.6 billion by a group led by its
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Goldman Sachs Group Inc Stock Summary
The Goldman Sachs Group, Inc. provides investment banking, securities, and investment management services, as well as a range of financial services to corporations, financial institutions, governments and high-net-worth individuals worldwide. Its Investment Banking segment offers financial advisory services, including advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense, risk management, and restructurings and spin-offs; and underwriting activities comprising public offerings and private placements of a range of securities, loans and other financial instruments, and derivative transactions. The company?s Institutional Client Services segment provides client execution services, such as fixed income, currency, and commodities client execution related to making markets in interest rate products, credit products, mortgages, currencies, and commodities; and equities related to making markets in equity products, as well as commissions and fees from executing and clearing institutional client transactions on stock, options, and futures exchanges. This segment also engages in the securities services business providing financing, securities lending, and other prime brokerage services to institutional clients, including hedge funds, mutual funds, pension funds, and foundations; and offers prime brokerage services. Its Investing and Lending segment originates longer-term loans; and invests in debt securities, loans, public and private equity securities, real estate, consolidated investment entities, and power generation facilities. The company?s Investment Management segment provides investment products and services to institutional and individual clients, as well as offers wealth advisory services, including portfolio management and financial counseling, and brokerage and other transaction services to high-net-worth individuals and families. The Goldman Sachs Group, Inc. was founded in 1869 and is headquartered in New York, New York.