Property and casualty insurance company

American Financial Group

(AFG) - Get Report

said Monday it agreed to sell certain of its New York real estate assets. The company expects to record an after-tax gain of about $29 million, or 36 cents a share, after transaction costs.

The sale is expected to close late in the third quarter or in the fourth quarter.

The company's shares were trading at $44.22, up 34 cents.

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