Bank of America (BAC) agrees to sell its remaining stake in China Construction Bank - about 2B shares or 1% of the company. The transaction is expected to generate a pretax gain of around $750M in Q3.
An early morning report had BofA offering its shares at a 5.1% discount to the previous Hong Kong close.
Earlier: The end of an era as global banks unload stakes in Chinese lenders.
Source: Press release.