Goldman Sachs Sells Remaining Stake in China’s ICBC

Goldman Sachs Group Inc. is selling the rest of its stake in Industrial & Commerce Bank of China Ltd. for about $1.1 billion. Goldman made the investment about seven years ago. If the sale is successful, the Wall Street Journal is reporting that Goldman could raise $9.7 billion  from several block trades of ICBC shares. Goldman first invested in ICBC in 2006 before it went public and has sold off its stake in pieces over the years.