Warren Buffet to become top shareholder of Goldman Sachs

Billionaire Warren Buffett is to become a top 10 shareholder of Goldman Sachs after he agreed to amend the terms of his four-year investment in the bank.

In September 2008, Mr. Buffett's Berkshire Hathaway fund invested US$5 billion in Goldman at 10 per cent interest.

In addition to the interest, Berkshire was given the opportunity to buy billions of additional shares in the future.

Under the 2008 deal, Berkshire had the right - called a warrant - to buy a further 43.5 million shares for US$115 each on October 1 this year.

The US$115 figure compares with Goldman's US$147 dollar share price in trading Tuesday.


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