(Reuters) – Goldman Sachs Group Inc’s <GS.N> asset management arm has sold at least $300 million of the Venezuelan bonds it acquired in a purchase in May, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Four or five hedge funds in London and New York bought the bonds of state-owned oil company Petróleos de Venezuela SA (PdVSA) for about 32.5 cents on the dollar, slightly more than the 31 cents Goldman paid, according to people familiar with the matter, the WSJ said. http://on.wsj.com/2tyawG2
Goldman Sachs declined to comment.
The investment bank came under fire from Venezuelan politicians and protesters in New York opposed to President Nicolas Maduro’s dictatorial regime for buying $2.8 billion in government bonds for pennies on the dollar.
Japanese investment bank Nomura Securities also bought about $100 million worth of Venezuelan bonds earlier in June as part of the same deal that Goldman Sachs took part in.
(Reporting by Pallavi Dewan in Bengaluru; Edited by Martina D’Couto)