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Goldman Sachs Group Inc Sell $1 Billion Stake in Industrial and Commercial Bank of China Ltd-NYT

Monday, 28 Jan 2013 07:11pm EST 

The New York Times reported that Goldman Sachs Group Inc is selling a $1 billion stake in Industrial and Commercial Bank of China. Under the terms of the deal, Goldman will sell shares in the Chinese bank at HKD5.77 ($0.74 ) each. The exact number of shares has yet to be confirmed. The share sale represents around a 3% discount to the bank’s closing share price on January 28, 2013.