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Thursday, October 9, 2014

Singapore's GIC sells London property to Norway's sovereign fund, (NYSE: BAC)

Singapore's sovereign fund GIC said on Thursday it had sold its 100 percent interest in a London property called Bank of America Merrill Lynch Financial Centre for 582.5 million pounds ($944.5 million) to Norway's sovereign fund, Norges Bank Investment Management. GIC acquired the asset from Merrill Lynch in 2007.The property is a 585,000-square foot office complex located at 2, King Edward Street in London.(1 US dollar = 0.6167 British pound)

Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 1.42% or $0.24/share to $17.12. In the past year, the shares have traded as low as $13.80 and as high as $18.03. On average, 76090896 shares of BAC exchange hands on a given day and today's volume is recorded at 101440136.