Goldman Sachs exits ICBC with final $1.1 billion block trade

Seven years and six sell-downs after its initial investment in China’s biggest bank, Goldman puts an end to one of its most lucrative investments.

Goldman Sachs exits ICBC with final $1.1 billion block trade

Goldman Sachs has sold its final batch of shares in Industrial and Commercial Bank of China ICBC, putting an end to a strategic partnership that has lasted seven years and yielded significant returns for the US bank.

It’s only been three-and-a-half months since Goldman’s previous sell-down and the share price is still slightly below where it was back then, but the demand was still strong enough for the price to be fixed at the...

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