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Goldman Sachs Plans to Redeem Berkshire Hathaway’s Investment

|Includes: B, BRK.A, The Goldman Sachs Group, Inc. (GS)
“Goldman Sachs has the right to call our preferred on 30 days notice, but has been held back by the Federal Reserve (bless it!), which unfortunately will likely give Goldman the green light before long.”

– Warren Buffett, 2010 Letter to shareholders dated February 26, 2011

Goldman Sachs has announced that the Federal Reserve has granted approval for the company to redeem Berkshire Hathaway’s $5 billion investment in Goldman’s 10% cumulative perpetual preferred stock.  The investment was made on October 1, 2008 at the height of the financial crisis.

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