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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Middle East SWF likely to be main buyer of BofA’s China Construction Bank stake

Posted on 30 August 2011

A Middle East sovereign-wealth fund will likely be the main buyer of half of Bank of America Corp.’s (BAC) stake in China Construction Bank Corp, Hong Kong’s Apple Daily reported Monday.
The U.S. bank is in the final stages of negotiating the sale of a 5.23% stake in the Chinese lender, or about half of its 10.23% holding, to a group of sovereign-wealth funds and institutional investors, the report said, citing a person familiar with the situation……………………………………….Full Article: Source


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