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By Nathan Allen
French investment house Orfim will sell its 5.24% stake in energy-storage and distribution company Rubis SCA (RUI.FR) via a private placement, Rubis said Friday.
Orfim has been a shareholder in Rubis since 1999 and is selling the stake as part of a general reorganization of its structure, Rubis said.
Based on Rubis's closing price on Thursday, the stake would have a nominal value of around 254.1 million euros ($286.3 million), according to data from FactSet.
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(END) Dow Jones Newswires
April 12, 2019 05:23 ET (09:23 GMT)
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