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Pacific Current Group sells remaining stake in RARE Infrastructure

Australia's Pacific Current Group Ltd. completed the sale of its remaining 10% stake in RARE Infrastructure Ltd. to U.S.-based Legg Mason Inc.

The asset management company received A$21.5 million in pretax sale proceeds and A$1.36 million for dividends that it would have otherwise made, according to an Oct. 11 release.

It agreed to exit RARE Infrastructure in July after exercising its put option.