Goldman Sachs may have to accept lower price for Metro

Goldman Sachs may have to accept a discounted price for its Metro warehousing business due to uncertainties over the industry’s regulatory and political situation, sources said.

The bank has put Metro up for sale in a difficult environment, having bought the business in February 2010.  “We are exploring a sale of Metro International Trade Services LLC,” a spokeswoman for Goldman Sachs said in a statement. “Metro is not strategic to our client activities, and the firm has concluded that this is the right time to explore a sale, given recent interest by potential buyers.” But sources said that the sale price for Metro may have to be significantly lower than a fair valuation of the business due to the uncertain nature of the industry, with legal action against the warehouses – specifically naming Goldman Sachs and Metro as plaintiffs – under way in a New York courthouse, as...

Published

Jethro Wookey

May 21, 2014

15:01 GMT

London