AFG To Close Sale Of Remaining Infinity Shares
NU Online News Service, Dec. 18, 3:19 p.m. EST?American Financial Group Inc. announced the closing today of the sale of its remaining shares in Infinity Property and Casualty Corp., with an after-tax gain of some $35 million for American Financial.[@@]
Infinity went public on the NASDAQ Market last February, but prior to its initial public offering, it was owned by Cincinnati-based American Financial Group. Based in Birmingham, Ala., Infinity is currently the second-largest writer of policies for high-risk drivers in the United States, behind Progressive Corp. in Mayfield Village, Ohio.
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