On February 11, Berkshire divested DaVita shares for $156,011 each. The worth of the sold share was $31.68 million. Currently, Berkshire's ownership in DaVita comprises approximately 35.89 million shares - 45% of the authorized capital - and is estimated to be nearly $6.4 billion, as reported by Reuters.
Berkshire noted in documents submitted to the regulator that this sale of DaVita shares was mandated by a securities repurchase agreement. The agreement is scheduled to end in April 2024; it mandates DaVita to buy back a specific number of shares quarterly to lower Berkshire's ownership to 45%.
Moreover, the contract mandates Berkshire to cast votes following the suggestions of DaVita's board of directors when owning over 40% of DaVita's shares.
Berkshire started its investment in DaVita during the fourth quarter of 2011. It offers dialysis services and associated lab tests nationwide for individuals experiencing chronic kidney failure.
source: reuters.com
Berkshire noted in documents submitted to the regulator that this sale of DaVita shares was mandated by a securities repurchase agreement. The agreement is scheduled to end in April 2024; it mandates DaVita to buy back a specific number of shares quarterly to lower Berkshire's ownership to 45%.
Moreover, the contract mandates Berkshire to cast votes following the suggestions of DaVita's board of directors when owning over 40% of DaVita's shares.
Berkshire started its investment in DaVita during the fourth quarter of 2011. It offers dialysis services and associated lab tests nationwide for individuals experiencing chronic kidney failure.
source: reuters.com