{"id":28875,"date":"2012-04-16T21:50:08","date_gmt":"2012-04-17T01:50:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=28875"},"modified":"2012-04-16T21:50:08","modified_gmt":"2012-04-17T01:50:08","slug":"goldman-to-raise-2-3-billion-in-sale-of-icbc-to-temasek-holdings","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/04\/16\/goldman-to-raise-2-3-billion-in-sale-of-icbc-to-temasek-holdings\/","title":{"rendered":"Goldman to Raise $2.3 billion in Sale of ICBC to Temasek Holdings"},"content":{"rendered":"<p><div id=\"grabDiv1767162\"><object id=\"GrabPlayer1767162\" width=\"542\" height=\"304\" type=\"application\/x-shockwave-flash\" align=\"middle\" data=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=v22cbcb6a64163bc3241d344543bae71600ae1582&#038;tgt=grabnetworks\"><param name=\"quality\" value=\"high\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"menu\" value=\"false\"\/><param name=\"wmode\" value=\"transparent\"\/><param name=\"movie\" value=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=v22cbcb6a64163bc3241d344543bae71600ae1582&#038;tgt=grabnetworks\"\/><\/object><\/p>\n<div id=\"overlay-adzone\" style=\"overflow:hidden; position:relative\"><\/div>\n<\/div>\n<p>Goldman Sachs (NYSE:GS) announced it will be selling its Hong-Kong listed shares of Industrial and Commercial Bank of China to Temasek Holdings. The sale will be worth $2.3 billion.This is the largest divestment ever for the world&#8217;s biggest bank with 3.55 billion shares being sold, about 4% of ICBC&#8217;s Hong Kong traded shares. This will add to Temasek&#8217;s growing portfolio of stakes in Chinese banks, having already owned part of China Construction Bank and Bank of China before buying the ICBC shares.Temasek will now have a 1.3 percent stake in the bank. Goldman Sachs has a history with ICBC, having bought a 4.9 percent stake in the bank before its initial public offering in 2006. Goldman paid $2.6 billion for that stake. The American bank now plans to continue to reduce its ownership in ICBC, now having about $3 billion in ICBC shares.<\/p>\n<p><img src='http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/04\/16\/1_5je9h7aa_thumb.jpg' \/><\/p>\n<p><!--post_img[http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/04\/16\/1_5je9h7aa_preview.jpg]--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs (NYSE:GS) announced it will be selling its Hong-Kong listed shares of Industrial and Commercial Bank of China to Temasek Holdings. The sale will be worth $2.3 billion.This is the largest divestment ever for the world&#8217;s biggest bank with 3.55 billion shares being sold, about 4% of ICBC&#8217;s Hong Kong traded shares. This will &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/04\/16\/goldman-to-raise-2-3-billion-in-sale-of-icbc-to-temasek-holdings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Goldman to Raise $2.3 billion in Sale of ICBC to Temasek Holdings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-28875","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=28875"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28875\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}