Raiffeisen cuts stake in Austria's RHI to 3.6 pct

VIENNA Fri Dec 7, 2012 10:52am EST

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VIENNA Dec 7 (Reuters) - Austrian lender Raiffeisen Bank International (RBI) is cutting its stake in Austrian fireproof materials maker RHI AG, RHI said on Friday.

RHI said it had been informed by the Raiffeisen group that RBI had agreed to sell its nearly 2.9 million shares in RHI. Half of that stake would be divested by Dec. 7, it added, leaving RBI with a stake of around 3.6 percent.

An RBI spokesman said the shares were sold to small number of financial investors and that he would not rule out a further reduction in its RHI holding.

Raiffeisen got the shares as part of an RHI restructuring in 2010.

(Reporting by Angelika Gruber and Michael Shields; Editing by Hans-Juergen Peters)

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