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Fresenius Medical to buy back up to €330M of shares

Fresenius Medical Care AG & Co. KGaA is planning to buy back up to €330 million worth of ordinary shares as part of a share repurchase program.

The German maker of kidney dialysis products will buy back up to a maximum of 6 million ordinary shares, representing about 1.6% of Fresenius' share capital. The repurchased shares will be used to reduce the registered share capital, which will be done by canceling the shares that are bought back by the company.

Fresenius said the repurchases will take place March 12-May 10, noting that the share buyback program may be suspended or restarted at any time.