Goldman Sachs doubles stake in Climate Exchange
Shares in Climate Exchange, the UK-listed company that owns the European Climate Exchange (ECX) and the Chicago Climate Exchange, rose by around 5% after the company disclosed that US investment bank Goldman Sachs has doubled its stake to 19%.
On January 19, shares in Climate Exchange stood at 670 pence near the close of trading on the London Stock Exchange’s (LSE's) Alternative Investment Market.
Goldman Sachs took a 10% stake in Climate Exchange in the third quarter last year. A release from Climate Exchange submitted to the LSE said Goldman Sachs had bought an additional 7,853,310 shares – equivalent to 19% of the company's share capital.
Goldman Sachs is a major trader of European Union allowances and is set to be a key player in
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