Nothing but negotiation

The Gap Partnership

Bank of America concludes business negotiations

The bank has agreed to sell shares in the China Construction Bank.

30 August 2011

Bank of America has announced the sale of 13.1 billion common shares in China Construction Bank after business negotiations were completed with a group of investors.

The deal is expected to net the company some $8.3 billion (£5 billion) in cash proceeds, as it continues its policy of reducing assets in favour of capital.

Provided that the closing conditions are met, the deal is expected to be completed by the third quarter of 2011.

Chief executive officer Brian Moynihan at the Bank of America - which operates across the US and Canada - noted the move comes after his group had a "mutually beneficial" agreement with China Construction Bank.

"This sale of approximately half of our shares of CCB stock is expected to generate about $3.5 billion in additional Tier 1 common capital," said chief financial officer Bruce Thompson.

He added the firm expects to generate $5.8 billion in additional finance.

Posted by Ron Maverick

Gap News

March 2014

The Negotiation Roadshow 2014

Generating value through creative negotiation

Read more

July 2013

Trading Global: Negotiating in the Far East

The Gap Partnership are hosting a complimentary Lunch & Learn seminar in association with UK Trade & Investment

Read more

April 2013

GroceryAid Negotiation Event Raises £26,550

The Gap Partnership, in conjunction with Asda, SC Johnson and Waitrose, host one-day negotiation workshop

Read more

February 2013

Trading Global - Negotiating in the Far East

What is the impact of cultural differences on your negotiations?

Read more

December 2012

The Gap Partnership Release New Negotiation Video

The Nothing but Negotiation video series continues with collaborative negotiation

Read more