4 Financial Stock Stories to Kick Off the Trading Week

Goldman Sachs Group (NYSE:GS): Current price $158.64

On Monday, Goldman Sachs initiated the divestiture of around $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, offering to sell 100 percent of its remaining interest in the bank by market value. Such a sale would represent the final phase in Goldman’s investment in China’s ICBC. Before its 2006 IPO, ICBC was a technically insolvent government institution, damaged by the bad loans that saddled China’s financial industry. The bank’s $240 billion market value is currently just below that of JPMorgan (NYSE:JPM) and Barclays put together.

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GS

The Blackstone Group (NYSE:BX): Current price $23.39

Blackstone is mulling over an initial public offering of its Brixmor Property Group shopping-center unit by the end of 2013, taking advantage of a stock market rally as it begins to divest real estate assets. Knowledgeable sources indicated that a share sale as a real estate investment trust is possible by the end of this year or early 2014. Last week, Brixmor chose a new financial head, a move some analysts interpreted as heralding an IPO. The assets which comprise the core of Brixmor were bought in the $9 billion acquisition of American shopping centers from Australia’s Centro Properties Group in 2011.

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BX

First Potomac Realty Trust (NYSE:FPO): Current price $15.25

First Potomac will sell a portfolio comprised of 24 industrial properties, consisting of roughly 4.3 million square feet, in a total sales price of $259 million. The majority of the industrial portfolio, accounting for about 4.0 million square feet, is being sold to an affiliate of Blackstone Real Estate Partners VII at a purchase price of $241.5 million. Subsequent to the purchase, the properties being bought by Blackstone will be managed by IndCor Properties, which is Blackstone’s national industrial portfolio company.

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FPO

BGC Partners (NASDAQ:BGCP): Current price $5.77

The brokerage company has obtained regulatory approval for the proposed sale of certain assets making up its platform for the fully electronic trading of benchmark, on-the-run United States Treasuries to NASDAQ OMX Group. As previously reported, total consideration for the transaction comes to $1.234 billion.

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bgcp

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