Legendary investor Warren Buffett-led Berkshire Hathaway has sold 2.7 million shares in global rating agency Moody's Corp for an estimated $67 million.
Following the stock sale, diversified entity Berkshire Hathaway holds about 35.4 million shares in Moody's.
The shares were sold in two separate transactions on December 7 and 8.
According to a filing with the US Securities and Exchange Commission, Berkshire Hathaway offloaded about 2 million shares for nearly $50 million on December 7. Each share was priced at $25.04.
The next day, the company sold 704,346 shares, each at a price of $24.81, for as much as $17 million.
Berkshire Hathaway has around 15 per cent stake in the rating agency.
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