Goldman Sachs has appointed oil tycoon John Hess to its board of directors, the firm announced on Monday, just as the Wall Street investment bank advises his company on its $53bn takeover by Chevron. The move comes as Goldman stands to make as much as $80mn in fees for helping Hess sell the family-run oil business in a contentious deal that has created a stand-off with ExxonMobil.
Goldman is the lead financial adviser to Hess in its acquisition by Chevron. The firm has also advised Hess on a number of other transactions in recent years, including the $2bn sale of its Russian assets and an $850mn deal for its storage terminals in 2013. “Advising companies and their management teams is a core part of our business, and we’re thrilled to have John Hess, a long-standing client, join our board,” the firm said in a statement.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: OilandEnergy - 🏆 34. / 68 Read more »