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Article: FBL Financial Group, Inc. Exchanges Home Office Properties for Class A Common Stock
- Article from:
- PR Newswire
- Article date:
- February 9, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WEST DES MOINES, Iowa, Feb. 9 /PRNewswire/ -- FBL Financial Group, Inc. (NYSE: FFG) today announced a planned transaction whereby FBL Financial Group will exchange its home office properties for 1,268,056 unregistered shares of FBL Financial Group's Class A common stock owned by the Iowa Farm Bureau Federation, its majority shareholder. The value of the transaction is $45,650,000, or $36.00 per common share. FBL Financial Group will lease a portion of the properties back from the Iowa Farm Bureau Federation under a 15-year operating lease. The transaction is expected to close in March 1998.
As a result of the transaction, the Company's outstanding common ...