CIC sells 6.9% stake in Goodman

China's sovereign wealth fund has sold a 6.9 percent stake in Goodman Group, Australia's biggest industrial property trust, to raise about A$519 million ($547 million), according to some close to the transaction.

China Investment Corp sold the 116.67 million shares at A$4.45 each and will retain a stake in Goodman of about 9.9 percent, said the sources, who declined to be identified since the details haven't been made public.

Goldman Sachs Group Inc managed the share sale to local and foreign investors, the sources said.

China Daily - Agencies