Tuesday, May 15, 2007

UPDATE 2-SunTrust selling Coke stock; sees $530 mln savings

(Reuters) - Atlanta-based SunTrust, which keeps a copy of the original formula for Coca-Cola in a vault, said it recently sold 4.5 million Coke shares, or 9 percent of its 48.2 million shares. It expects by year end to decide what to do with the rest.

The projected cost savings are 33 percent higher than the $400 million SunTrust had expected in January.


Read more at Reuters.com Bonds News

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