BofA sold CCB stake to Chinese consortium
China’s State Administration of Foreign Exchange, the National Social Security Fund and CITIC Securities have emerged as the buyers of the 5% stake in China Construction Bank (CCB) sold by Bank of America (BofA) for $8.3 billion, the Financial Times reported, citing unnamed sources close to the deal.
The Chinese consortium teamed up with Temasek Holdings and Qatar Investment Authority to purchase the stake, which represents half of BofA's 10% holding on CCB. Following the sale, Temasek is now the Chinese...
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