RTTNews | Sep 15, 2021 08:50AM EDT

08:49 Wednesday, September 15, 2021 (RTTNews.com) - Goldman Sachs Group, Inc. (GS) agreed Wednesday to acquire GreenSky, Inc. (GSKY), the largest fintech platform for home improvement consumer loan originations, in an all-stock transaction valued at approximately $2.24 billion.

GreenSky's differentiated lending capabilities and market-leading merchant and consumer ecosystem will help accelerate the efforts of Goldman Sachs to create the consumer banking platform of the future.

The acquisition will enhance Goldman Sachs' ability to provide consumers with the opportunity to save, spend, borrow and invest, and meet customers where they transact.

GreenSky has provided simple and transparent home improvement financing solutions for approximately four million customers. GreenSky has a growing network of over 10,000 merchants and helps them accelerate their business by incorporating a seamless financing experience into their commerce flow.

As part of the agreement, GreenSky stockholders will receive 0.03 shares of common stock of Goldman Sachs for each share of GreenSky Class A common stock, which equates to $12.11 per GreenSky Class A common stock, based on the closing share price of Goldman Sachs common stock as of September 14, 2021.

The Boards of Directors of Goldman Sachs and GreenSky have approved the transaction and the Board of Directors of GreenSky recommends that GreenSky stockholders approve the transaction and adopt the merger agreement.

The transaction, which is anticipated to close in the fourth quarter of 2021 or first quarter of 2022, is subject to approval by GreenSky stockholders, the receipt of required regulatory approvals, and satisfaction of other customary closing conditions.

Read the original article on RTTNews ( https://www.rttnews.com/3225916/goldman-sachs-to-acquire-greensky-for-approximately-2-24-bln-in-stock-quick-facts.aspx)

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