Kuwait Wealth Fund Offloads $3.1 Billion Bank of America Stake.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Natarajan, Sridhar; Nair, Dinesh; Hughes, Anthony; MacDonald, Fiona 3 of 3

Abstract

The article focuses on the Kuwait Investment Authority's (KIA) sale of a $3.1 billion stake in Bank of America Corp. through an overnight block trade, with shares priced at $47.95 each. This sale, which reflects a 1.5% discount from the previous closing price, follows KIA's recent divestment of a $3.4 billion stake in AIA Group Ltd. Additionally, the article notes that KIA had previously invested significantly in Merrill Lynch, which was acquired by Bank of America in 2009. The article also mentions changes in Bank of America's major shareholders, highlighting that Vanguard Group Inc. is now the largest shareholder following Berkshire Hathaway's reduction of its stake. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/07, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • Accession Number:186473367
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