Goldman Sachs to Sell Litton Loan Servicing
New York, June 6, 2011 - The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has agreed to sell Litton Loan Servicing to Ocwen Financial Corporation (NYSE:OCN) for approximately $264 million. The sale price does not reflect certain assets that Goldman Sachs will retain.
Goldman Sachs does not expect the sale to have any material impact on earnings in the second quarter due to the combination of the sales price and the impairment charge announced in the first quarter of 2011 primarily related to Litton.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.