Uniqa Sells €140 Million Strabag Stake After 118% Rally (2)

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).

Strabag’s share price has more than doubled this year as Germany vowed to pour billions of euros into infrastructure and defense. Strabag’s founding Haselsteiner family sold 2 million shares in March at a ...