October 18, 2013 / 5:45 AM / 4 years ago

Norway's Gjensidige sells down Storebrand stake

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

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