Bank of America Sees $750 Million Pretax Gain on CCB Sale

Bank of America Corp. (BAC) confirmed plans to sell its remaining stake in China Construction Bank Corp. (939) for a gain of about $750 million before taxes.

The two banks intend to maintain their strategic agreement, Bank of America said today in a statement. The stake represents about 2 billion shares, or 1 percent of all CCB shares outstanding, the Charlotte, North Carolina-based company said.

To contact the reporter on this story: Rick Green in New York at rgreen18@bloomberg.net

To contact the editor responsible for this story: Steven Crabill at scrabill@bloomberg.net

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