Bank of America and Temasek Holdings, the Singapore government's investment arm, completed their stake acquisitions in China Construction Bank, state media reported. Bank of America paid US$2.5 billion for 9% of CCB while Temasek paid US$1.47 billion for a 5.1% stake in one of China's most reform-friendly banks, state media reported. The sale completion paves the way for the two investors to provide expertise to CCB in risk management and corporate governance.