Uniqa Sells €140 Million Strabag Stake After 118% Rally

Uniqa Insurance Group AG sold about 1.5% of Strabag SE following a 118% rally this year, just weeks after a similar placement by the Austrian construction company’s founding family.

The Viennese insurer sold 1.8 million shares for €77.67 apiece, according to terms of the deal seen by Bloomberg News. That represents a 10% discount to Tuesday’s closing price and values the stake at €140 million ($158 million).