Groupama raises 450.4 mln eur in Saint-Gobain stake sale

PARIS, April 8 Tue Apr 8, 2014 3:39am EDT

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PARIS, April 8 (Reuters) - French insurer Groupama said on Tuesday that it raised about 450.4 million euros ($619 million) from the sale of its entire 1.8 percent stake in Saint-Gobain , Europe's biggest supplier of construction materials.

Shares in Saint-Gobain were down 2.8 percent at 44.10 euros by 0735 GMT, the worst performers on the French blue-chip CAC 40 index.

The placement was managed by HSBC, acting as bookrunner. ($1 = 0.7277 Euros) (Reporting by James Regan; Editing by Blaise Robinson)

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