RBS, Merrill and KS Li buy into BOC

The news became official yesterday (Thursday) that the Europe's third largest bank RBS was investing $1.6 billion for a 5% stake in Bank of China. Co-investing with RBS for a slightly smaller stake for $1.5 billion are a consortium comprising Merrill Lynch and the Li Ka Shing Foundation, the personal holding company of KS Li, Asia's richest man. Other investors are understood to be in the deal but their identities have not been revealed.