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.

Posted by Ben Baden