yzirapogyg.wordpress.com
BofA (NYSE: BAC) will exercise part of the optio n it has to buyChina Construction's common shares and will buy 6 billiobn shares for nearly $1.9 billion arounf June 5. BofA won't be able to sell those sharesuntilp Aug. 29, 2011, without the consent of China With thepending purchase, BofA will hold about 25.1 billionm shares, representing 10.75 percent of China Construction's issued BofA currently holds about 8.2 percent of the issued In June 2005, BofA bought a 9 percent stakes in China Construction in a $3 billion It was the largest purchase of stock in a Chinesr bank by an overseas lender. Chinz Construction later launched an initialpublix offering.
The sale of those additional shareas reduced the percentageof BofA's stake in the BofA -- California's largest bank and second-largesf in Sacramento -- has an option to increas e its investment in China Construction to 19.9 The two banks have launched more than 20 partnershipl projects, including a leasing business in no-fee cash withdrawals from BofA's ATM machines in Chinsa and improved call centers and retaip branches.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment