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Business

Carl Icahn sells Herbalife stake worth US$600milOctogenarian billionaire investor gives up board seats

LOS ANGELES: Billionaire investor Carl Icahn will sell about US$600mil-worth of his stake in Herbalife Nutrition Ltd, further winding down his holdings in the nutritional-supplements company after a tumultuous eight-year investment.

Herbalife has agreed to repurchase the shares from Icahn at US$48.05 each, which was the closing price on Thursday, according to a statement on Sunday.

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