Goldman Sachs To Sell $1B Chinese Bank Stake

Law360, New York (January 28, 2013, 2:13 PM EST) -- In a second major stake sale in under a year, Goldman Sachs Group Inc. is selling off a nearly $1 billion stake in the Industrial and Commercial Bank of China Ltd., a source familiar with the matter told Law360 on Monday.

The shares will be sold for 5.77 Hong Kong dollars (US$0.74), according to the source, who declined to be named. The deal comes about nine months after Goldman Sachs sold off about $2.5 billion worth of the bank's shares in another major share sale....
To view the full article, register now.