ICBC LOCKS GOLDMAN SACHS, ALLIANZ AS STRATEGIC INVESTORS
AsiaInfo Services, August, 2005
AsiaInfo Services 08-22-2005 ICBC Locks Goldman Sachs, Allianz as Strategic Investors BEIJING, Aug 22, 2005 (SinoCast via COMTEX) -- The Industrial and Commercial Bank of China (ICBC) has initially taken Goldman Sachs and Allianz as its strategic investors.The bank is in talks with the well-known investment bank and the insurance group, and expects to reach a final agreement in September.Insiders disclose that the two groups are negotiating with the bank on stake amount and price of shares they are going to buy.In the light of current situation, the two groups will likely purchase a 10% stake in the bank for USD 3.5 billion (USD 1 = CNY 8.11), insiders added.However, Goldman Sachs (Asia) made no comment as it did in the past.An ICBC official said the state-owned lender...
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