Bank of America raises $8.3b in partial exit from CCB
Bank of America (BofA) on Monday sold about half its 10% holding in China Construction Bank (CCB), raising $8.3 billion. The lender, which is in the process of shedding non-core assets and boosting its tier-one capital, sold 13.1 billion shares to group of investors. The transaction is expected to close in the third quarter.
Although BofA has not named the investors, The New York Times earlier reported that a consortium of Asian and Middle East sovereign wealth funds as well as several private equity firms was in negotiations...
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