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PICO Holdings, Inc. Sells Its Interest in Jungfraubahn Holding AG.

Publication: PR Newswire
Publication Date: 22-APR-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
LA JOLLA, Calif., April 22 /PRNewswire-FirstCall/ -- PICO Holdings, Inc. announced today that its wholly-owned Swiss subsidiary, Global Equity AG, sold its entire position of 1,312,907 shares in Jungfraubahn Holding AG for 57.70 Swiss Francs ("CHF") per share, resulting in gross sale proceeds of CHF 75.8 million (approximately US$75.8 million).

The sale is expected to generate a pre-tax gain of approximately US$45 million in PICO Holdings' consolidated statement...

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