RUSSIA: GOLDMAN TAKES STAKE IN DEBT COLLECTOR

Goldman Sachs bought a stake in a Russian debt collection agency, Sequoia Credit Consolidation, for an undisclosed sum, the Russian company said. The agency’s chief executive, Yelena Dokuchayeva, said the stake was significant but not controlling; she declined to elaborate. Sequoia said it would use the money to expand in Russia and acquire portfolios of bad debts. “Goldman Sachs has a vast experience of dealing with nonperforming loans in both developed and emerging markets worldwide,” Sequoia’s chairman, Eugene Bernshtam, said in a statement. ( REUTERS)