AABP Award 728x90

Bank of America continues to sell businesses


Bank of America Corp. will sell most of its remaining China Construction Bank Corp. stake after divesting about 13 billion shares in August to bolster capital, Bloomberg reported. Bank of America will sell 10.4 billion shares this month to a group of investors in private transactions for an after-tax gain of about $1.8 billion, the company said in a statement. Bank of America has been selling businesses and assets as it seeks to comply with international capital standards set by the Basel Committee on Banking Supervision.

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