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Fiserv completes sale of stake in insurance unit

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By AP
15 July 2008 @ 10:34 am EST

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BROOKFIELD, Wis. - Fiserv Inc., an information technology provider for the financial services and insurance industries, said Tuesday it completed the sale of a majority stake in its insurance business to a private equity fund managed by Stone Point Capital LLC.

Quotes

FISV

32.01

-2.13

Fiserv received $510 million in net proceeds from the sale, and retains a 49 percent interest in Fiserv Insurance Solutions Inc.

Fiserv shares fell 47 cents to $46.14 in morning trading.

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