CCB and Pizza Hut: Bank of America Cash Pro

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Bank of America for future studies on their own all the shares of China Construction Bank (CCB, for its acronym in English) and will be sold to an investment fund its participation in the Pizza Hut tax exemption in its plan to dispose of assets and increase capital, the Wall Street Journal reported today. According to sources close to the negotiations referred to in the newspaper, the U.S. financial institution plans to eliminate its current 5% in the Second Bank of China for the market.

Bank of America announced on August 29 on sales of 13,100 million common shares of CCB, at halftime, the securities as the property of $ 8.3 billion in cash. The transaction, according to the Wall Street Journal, has enabled the company to collect U.S. $ 3.6 billion in capital, and helped him win the 2600 m in the third quarter of 2011, although its activity in the mortgage lost 1 100 million. On the other hand, the New York Metropolitan newspaper confirmed that the Bank of America has signed an agreement with the fund's investment partners for sale in Olympus $ 755 million for its stake him to the tax on Pizza Hut, which the bank inherited from Merrill Lynch, when the investment bank bought unhappy in 2009.
amazon cash [] sale, said the newspaper will provide the organization with 375 to 400 million dollars, "is consistent with our strategy of selling assets that do not agree with our plan of services focused on the customer, "said a Wall Street Journal America a bank spokesman. The bank was several months to dispose of assets to raise capital and power is concentrated in business services to consumers, lenders and investment banking. Reconstruction to reduce costs was driven by the president and CEO of the organization, Brian Moynihan, who is desperate to regain shareholder confidence after the Bank's role in the American mortgage crisis of 2008.

The Bank, which is the beginning of September was also a list of organizations that the U.S. government requests for compensation for a millionaire by selling junk mortgages, and Fannie Mae and Freddie Mac, fighting in a large file sizes of these requirements and the evidence he has already been paid for with a multimillionaire investors who lost money. Operate the Bank of America fell 0.54% today, toward the equator, and the session in New York Stock Exchange, where their names have been reduced by 51.87%, which is the year. Bank of America has announced that August 29 of the past sales of 13.1 billion CCB common positions, then half of the titles, was the property of $ 8.3 billion in cash.

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