BofA Merrill sells remaining CCB stake

US bank offloads stake in China Construction Bank worth HK$11.4 billion (US$1.47 billion), which is the sixth time it has sold down the Chinese bank's shares since it acquired a 9% stake in 2005.

The sale of the CCB stake comes as BofA Merrill tries to clean up its balance sheet by selling off non-core assets.

Jing Song

September 04, 2013

Bank of America Merrill Lynch on Tuesday night sold its remaining stake in China Construction Bank, one of the "big four" banks in China, for HK$11.4 billion (US$1.47 billion).

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