Berkshire to receive more than $2B in Goldman shares

|About: Berkshire Hathaway Inc (BRK.A)|By:, SA News Editor

Berkshire Hathaway (BRK.A, BRK.B) is set to receive over $2B in Goldman Sachs (GS) shares via warrants that the holding company obtained at the height of the financial crisis in 2008, when its investment helped save GS from collapse.

Warren Buffett's firm invested $5B for a preferred holding - which GS redeemed in 2011 - and received warrants to acquire $5B in stock for $115 a share.

In March, Berkshire agreed to exercise the warrants through a cashless transaction in which it will receive an amount of stock equivalent to its paper profit.

GS shares closed at $159.85 on Friday.