Warren Buffett is set to become one of the top ten shareholders at Goldman Sachs, it has been announced.
It was revealed that he has agreed to amend the terms of his 2008 investment in the bank.
According to a report by BBC News, Mr Buffett's Berkshire Hathaway fund invested $5 billion (£3.3 billion) in Goldman at ten per cent interest in September 2008.
Goldman is now giving away shares to Buffett to limit diluting its stock, with the bank's stocks recorded at $147.43 in early Tuesday trading.
Chief executive at Goldman Sachs Lloyd Blankfein said: "We are pleased that Berkshire Hathaway intends to remain a long-term investor in Goldman Sachs."
Goldman Sachs recently cut its rating on BlackBerry to "neutral" from "buy", but stocks in the smartphone manufacturer dropped by four per cent on the back of the news.
BlackBerry is aiming to regain ground on the market with its new phone, the Z10.
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