Reuters - BofA Exits Stake in China's CCB

Bank of America Corp raised $1.47 billion by selling its remaining stake in China Construction Bank Corp, ending an eight year-old investment that generated a paper profit more than five times the original cost, writes Reuters. The Charlotte, North Carolina-based bank sold 2 billion Hong Kong-listed shares of CCB at HK$5.70 each, a 3.9 percent discount to Tuesday's close, a term sheet of the deal seen by Reuters showed.

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