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Goldman Sachs eyes Quinn debt

INTERNATIONAL investment bank Goldman Sachs is believed to be interested in purchasing the discounted Quinn Group debt.

Goldman, which has been retained by the National Treasury Management Agency (NTMA) to advise the Government on Anglo Irish Bank's dealings, is separately purchasing the debt on behalf of clients.

It's understood that Goldman has taken a "small portion" of the €50m or so of Quinn debt that's been traded recently.

However, the financial institution could not reveal the identity of the bank's advisory clients, or the specifics of any trading carried out on behalf of Goldman clients.

But a spokesman confirmed that there is no issue of conflict of interest as investors are isolated from information about other decisions within the group.

"All investment banks have Chinese walls in place to avoid and manage potential conflicts of interest [in general]," a spokesperson said.


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