Bank of America to Sell Most of Its Stake in Chinese Lender – NYTimes.com

Bank of America to Sell Most of Its Stake in Chinese Lender

Bank of America announced on Monday that it would sell most of its remaining holdings in China Construction Bank to a group of unidentified investors, in a bid to bolster its capital buffer.

The deal, which is projected to raise $1.8 billion, comes as the bank faces questions about its financial health.

via Bank of America to Sell Most of Its Stake in Chinese Lender – NYTimes.com.