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Ukraine Deigns To Allow Goldman Sachs To Advise Government

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On the condition GS works for free.

Goldman Sachs, which hasn’t arranged a debt or equity sale in Ukraine since at least 1999, will advise the government of the former Soviet republic free of charge.The bank, led by Chief Executive Officer Lloyd Blankfein, will advise the administration of Prime Minister Mykola Azarov on managing its investments, state debt and “other issues of financial-policy implementation,” the government said in a statement dated June 20 and published on its website today.

The selection follows Goldman’s third attempt in 17 years to crack the neighboring Russian market where it has been ramping up presence and wooing the Kremlin for roles in asset sales. The bank, once the most profitable securities firm in Wall Street history, wasn’t involved in a single deal since 1999 as the Ukrainian government and companies raised $41.4 billion in stock and debt sales during the period, Bloomberg data show.

Goldman Agrees To Advise Ukraine For Free [Bloomberg]

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