FMC seen down as Fresenius cuts stake to 20%

By Reuters News14 hours ago Updated

** Shares in Fresenius Medical Care FMEG.DE are seen down 2.6% in early Frankfurt trade after Fresenius SE & Co KGaA FREn.DE cut its stake in the dialysis group to around 20% from 25%

** Fresenius sold 13.4 million FMC shares at €39 each, raising gross proceeds of about €524 million

** The placement was priced at a 4.4% discount to FMC's Wednesday's close

** Fresenius said proceeds will be used to invest in its growth platforms and strategic priorities

** The healthcare group has raised about €2.3 billion from FMC share sales since deconsolidating the dialysis specialist

($1 = 0.9027 euros)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.