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Goldman Sachs takes $900mn hit on Northvolt investment

  • Goldman Sachs Asset Management will write off nearly $900 million on its investments in Northvolt AB, which has filed for bankruptcy protection this week.
  • Goldman Sachs was the second-largest shareholder in Northvolt, which is now attempting to restructure under Chapter 11 proceedings.
  • An investor group led by Goldman Sachs failed to rescue Northvolt after months of discussions, leaving the company with only one week's cash.
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