DaVita buys back $69 million shares from Berkshire, which retains 45% stake
DaVita buys back $69 million shares from Berkshire, which retains 45% stake Oct 29 (Reuters) - DaVita DVA.N paid about $69 million to buy back 382,563 of its own shares from Berkshire Hathaway BRKa.N, which retained a 45% stake in the kidney dialysis services provider following the repurchase, according to US Securities and Exchange Commission filings on Thursday.
The transaction took place on October 27 and reduced Berkshire's stake in DaVita to about 28.31 million shares. DaVita has an agreement with Berkshire to repurchase enough shares on a quarterly basis to lower Berkshire's ownership stake to 45%. Berkshire has owned shares of Denver-based DaVita since the fourth quarter of 2011.
(Reporting by Jonathan Stempel in New York)
((jon.stempel@thomsonreuters.com ; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net /))
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