Norway's Gjensidige sells down Storebrand stake

OSLO Fri Oct 18, 2013 1:40am EDT

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OSLO Oct 18 (Reuters) - Norwegian insurer Gjensidige has sold 19 million shares or 4.22 percent of fellow insurer Storebrand at 34.75 crowns per share, a 3.9 percent discount to the stock's last closing price, the firm said on Friday.

Gjensidige, which has reduced its holding in Storebrand to 20.1 percent with the deal, will book a 40 million Norwegian crowns ($6.74 million) gain on the transaction.

($1 = 5.9328 Norwegian kroner) (Reporting by Balazs Koranyi)