SubscribeAll Posts Tagged With: "initial public offering"
Bank of America to Boost Stake in China’s No. 2 Bank
Bank of America Corp. (BAC) will almost double its stake in state-owned banking giant China Construction Bank Corp., and will control nearly 20% of China’s second-largest bank when the deal is finalized.
The official announcement yesterday (Monday) ends months of speculation that the Charlotte, N.C.-based BofA would dump part of its three-year-old investment the Beijing-based bank to offset the effects of the global financial crisis. In an article on Saturday, Money Morning reported that the deal was close, though noting that the actual timing was unknown.
Story continues below…
|
Sign up right now, and we’ll send you an important new report for free: “The Three… |
Loading ...
