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.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 12, 2019 05:23 ET (09:23 GMT)