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Cheat Sheet: What’s going on behind Goldman Sachs’ acquisition of BNPL GreenSky?

  • Goldman Sachs has acquired BNPL firm GreenSky for $2.24 billion, with the transaction expected to finish by Q4 2021 or Q1 2022.
  • GreenSky's platform and team will be integrated with Marcus by Goldman Sachs.
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Cheat Sheet: What’s going on behind Goldman Sachs’ acquisition of BNPL GreenSky?

Goldman Sachs announced it’s reached an agreement to acquire buy now, pay later firm GreenSky for $2.24 billion in an all-stock transaction. The acquisition saw GreenSky’s share surge 53% on the news and reflected Goldman’s interest in growing its consumer lending business. 

The transaction details:

  1. The all-stock deal puts the per-share price for GreenSky stock at $12.11, making the implied transaction value approximately $2.24 billion.
  2. The deal, announced last Wednesday, values GreenSky at more than 50% above the previous day’s closing price.
  3. Goldman Sachs expects the transaction to close by the fourth quarter of 2021 or the first of 2022.
  4. GreenSky CEO David Zalik will join Goldman Sachs as a partner, and his team will move to Marcus.

What’s in it for the two parties?

 


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