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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

BofA sells China Bank stake to SWFs

Posted on 30 August 2011

Bank of America has sold about half of its 10% stake in China Construction Bank to a handful of sovereign-wealth funds and institutions in the US and Asia, totaling $8.3 billion before taxes.
“Our partnership with China Construction Bank has been mutually beneficial,” said Bank of America Chief Executive Officer Brian Moynihan in a statement……………………………………….Full Article: Source


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