Goldman Sachs (GS) may end up with as much as a 2.4% stake in Sumitomo Mitsui (SMFJY.PK),...

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Goldman Sachs (GS) may end up with as much as a 2.4% stake in Sumitomo Mitsui (SMFJY.PK), Japan's second-largest bank, after agreeing to convert its ¥100B ($1.09B) of preferred shares. Under pressure to boost capital, Sumitomo Mitsui also plans to raise up to ¥889B selling common stock.