Deals
Temasek Buys China Construction Bank Shares for $2.8 Billion
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Temasek Holdings Pte, Singapore’s state-owned investment company, bought shares in China Construction Bank Corp. for as much as HK$21.7 billion ($2.8 billion) about eight weeks after paring its holdings.
Temasek purchased 4.4 billion shares, paying as much as HK$4.94 apiece and increasing its stake to 8.1 percent of the Hong Kong-listed shares, according to a filing to the Hong Kong stock exchange yesterday. Bank of America Corp. said Aug. 29 that it agreed to sell about half its stake in the Beijing-based lender for $8.3 billion to bolster capital.