BofA To Get $750M For Stake In Top China Bank

Law360, New York (September 3, 2013, 6:25 PM EDT) -- Bank of America Corp. on Tuesday announced plans to sell its remaining stake in one of China's top banks for $750 million.

The Charlotte, N.C.-based bank said in a statement that it would sell its 2 billion remaining shares in China Construction Bank Corp., which represents around 1 percent of the bank's outstanding shares, ending an eight-year investment in the bank. Bank of America valued its CCB stake at HK$5.70 ($0.74) per share.

The stock sale does not mean an end to the relationship between Bank...
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