Financier Increases Stake in Republic American
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Cincinnati financier Carl Lindner increased his stake in Republic American Corp., an Encino workers’ compensation insurance company, by about 1% to 50.2%, or 9.25 million shares.
In a filing with the Securities and Exchange Commission, Penn Central Corp., a company Lindner controls, reported it bought 241,000 shares for $13.25 to $15.62 a share from April 28 to May 24.
Penn Central, based in Greenwich, Conn., now owns an 11.6% stake in Republic American. Another Lindner company, American Financial Corp., owns a 38.6% stake in the Encino company.
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