BofAML to retain at least 5% of its CCB holding
Bank of America Merrill Lynch (BofAML) has agreed to extend its partnership with China Construction Bank (CCB) until the at least the end of 2012. Zhang Jianguo, president of CCB, said the US bank, which currently has a 10% stake in the Chinese lender, will retain ownership of at least 5%.
BofAML is free to exit most of its stake, worth an estimated $17 billion, at the end of August. However, it was reported earlier this month that the bank was struggling to find buyers for the holding....
More on Financials
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.