Temasek Holdings is
buying part of Goldman Sachs’ stake in Industrial & Commercial Bank of
China Ltd., adding shares of China’s biggest bank to holdings that include two
of the nation’s largest lenders.
The Singapore state-owned investment group said it is buying
3.55 billion shares, or 4 percent of the Hong Kong-traded shares in the world’s
biggest bank by market value, to lift its stake. Goldman Sachs is selling $2.5
billion of shares at HK$5.05 each, according to two people with knowledge of
the matter. Temasek paid $2.3 billion for the stock, based on the per-share
price and stake size…
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