Goldman Sachs to Exit Japanese Golf Business by Selling Stake in Accordia
Goldman Sachs Group Inc. is selling its stake in Accordia Golf Co., ending an almost decade-long investment in the sport in Japan as player numbers fall.
A Goldman Sachs investment unit will sell 470,587 shares in Accordia, the Tokyo-based golf operator said in a statement today. The stake is worth about 37 billion yen ($445 million) based on today’s closing price. Accordia’s stock has lost 60 percent since Goldman Sachs took the company public in 2006.
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