Bank of America said to have sold CCB shares

Bank of America Corp, under pressure from US regulators to raise money, is believed to have sold a 5.8 percent stake in China Construction Bank Corp for about $7.3 billion, according to two people with knowledge of the matter.

Hopu Investment Management Co, the private-equity fund run by Goldman Sachs Group Inc's China partner Fang Fenglei, led investors including Singapore's state-owned Temasek Holdings Pte in buying 13.5 billion shares from Bank of America, the people said, speaking on condition of anonymity. Bank of America spokesman Robert Stickler declined to comment.

Bank of America's second sale of Construction Bank stock this year brings Chief Executive Officer Kenneth Lewis closer to the $33.9 billion regulators say he needs to raise following stress tests of US banks. The deal marks the biggest divestment of shares in a Chinese lender by an overseas investor.