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Real Estate & Property Law

: Housing Wire

Seeking Capital, BofA Sells Overseas Stake

By DIANA GOLOBAY

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Bank of America (BAC: 12.26 -5.26%) raises billions of dollars through the sale of a significant stake in an overseas commercial bank as part of an effort to raise nearly $40bn in fresh capital needed under federal regulators’ projections of a more severe recession. Booking at least $7bn through the deal barely touches the bottom line [...]

Full post as published by Housing Wire on May 12, 2009 (boomark / email).

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