Bank of America Corp
The private sales to a group of investors are expected to generate a gain of about $1.8 billion after taxes, Bank of America said in a statement. The income will allow the bank to realize deferred tax assets, boosting a measure of capital known as tier 1 common capital by about $2.9 billion.
CCB and Bank of America still have an agreement to cooperate on areas including investment banking through 2016.
The deal follows Bank of America's agreement in August to sell $8.3 billion worth of CCB shares to a group of investors, equal to about half its stake at the time.
Bank of America will hold about 1 percent of CCB's common shares after its most recent deal closes in November 2011.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Supriya Kurane and Derek Caney)