QBE Insurance Group Ltd. divested its 5.2% stake in AUB Group Ltd. for A$41.2 million, The Australian Financial Review's Street Talk blog reported March 8.
The Australian insurer sold 3.3 million shares for A$12.65 per share. The shares were purchased by a "handful" of institutional investors, the blog noted.
Macquarie Group Ltd.'s equities desk did the trade.
In 2017, QBE reduced its stake in the broker after selling a 9% stake at A$10.70 per share.
- Author
- Regina Liezl Gambe
- Theme
- Insurance
