Reuters: Regulatory News: Berkshire sells 6.1 pct of Moody's stake

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Berkshire sells 6.1 pct of Moody's stake May 1st 2013, 23:29 Wed May 1, 2013 7:29pm EDT May 1 (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Wednesday said it has sold 6.1 percent of its stake in Moody's Corp, the first time since 2010 it has sold shares of the parent of credit rating agency Moody's Investors Service. The sale of roughly 1.75 million Moody's shares between April 29 and May 1 generated gross proceeds of more than $105 million and reduced Berkshire's stake in the company to about 11.9 percent from 12.7 percent, according to filings with the U.S. Securities and Exchange Commission. All of the shares sold had been owned by Berkshire's Geico auto insurance unit, the filings show. Following the sales, Geico still owned nearly 14 million Moody's shares, while Berkshire's National Indemnity Co unit owned about 12.7 million. It is unclear why the sales took place. A Moody's spokesman did not immediately respond to a request for comment. Berkshire did not immediately respond to a request for comment. Berkshire once held a stake of more than 20 percent in Moody's. It has owned shares of the New York-based company for well over a decade. Shares of Moody's closed Wednesday down 5 cents at $60.80 on the New York Stock Exchange. Berkshire disclosed the sales after U.S. markets closed.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions