BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius said that it plans to reduce its stake in Fresenius Medical Care AG from currently around 32.2% to no less than 25% plus one share.
Fresenius intends to sell approximately 10.5 million shares, equivalent to about 3.6% of Fresenius Medical Care's issued share capital, by way of an accelerated bookbuilding procedure. In addition, Fresenius intends to issue bonds exchangeable into ordinary shares of Fresenius Medical Care with about 10.5 million shares underlying, equivalent to about 3.6% of Fresenius Medical Care's issued share capital.
The final size of the respective instruments is to be determined following the completion of the bookbuilding process. Fresenius will retain no less than 25% plus one share of Fresenius Medical Care.
Fresenius will use the proceeds in line with the FutureFresenius strategy and Fresenius' stated capital allocation priorities, including further strengthening the balance sheet, reducing leverage, and delivering long-term growth and shareholder value.
Following the completion of this transaction, Fresenius remains by far the largest shareholder of FME and will continue to actively support the management board of FME as a shareholder and through the two Fresenius representatives on the supervisory board of Fresenius Medical Care.
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