Reported about 13 hours ago
Goldman Sachs Asset Management is set to write off nearly $900 million after its investments in Swedish battery manufacturer Northvolt AB went bankrupt. The funds, which have significant exposure to Northvolt, will devalue their holdings at the year’s end. Despite efforts to rescue the company, Northvolt is now seeking Chapter 11 protection in the U.S., leaving it in a precarious financial state.
Source: YAHOO