Deals
Goldman Said to Sell Stake in China’s ICBC for $1.1 Billion
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Goldman Sachs Group Inc. raised $1.1 billion selling shares of Industrial & Commercial Bank of China Ltd., trimming an investment first made in 2006 after the stock posted its biggest monthly rally in 2 1/2 years.
Goldman Sachs sold 1.75 billion ICBC shares at HK$4.88 (63 cents), two people with knowledge of the matter said, asking not to be identified because the details are private. ICBC fell 7.1 percent to HK$4.82 at 10:06 a.m. in Hong Kong trading