(Reuters) -Dialysis firm Fresenius Medical Care shares fell 7.8% after German healthcare group Fresenius SE sold part of its stake in the company. Fresenius SE, which previously owned 32.2% of FMC,
Fresenius SE Cuts Stake in FMC, Shares Plummet
(Reuters) -Dialysis firm Fresenius Medical Care shares fell 7.8% after German healthcare group Fresenius SE sold part of its stake in the company.
Fresenius SE, which previously owned 32.2% of FMC, cut its stake to 25% plus one share via an accelerated bookbuilding procedure as well as through the placement of bonds exchangeable into FMC shares, it said in a statement.
Gross proceeds from the transactions amounted to around 1.1 billion euros ($1.2 billion), Fresenius said, adding that these will be used in line with stated capital allocation priorities.
Fresenius SE's stock declined 0.41%.
($1 = 0.9511 euros)
(Reporting by Tristan Veyet in GdanskEditing by Ludwig Burger)
