DaVita buys back $69 million of shares from Berkshire, which retains 45% stake
DVA•DaVita paid about $69 million to repurchase 382,563 shares from Berkshire Hathaway on October 27. Berkshire retained a 45% stake, with its holding reduced to about 28.31 million shares.
1. Share repurchase
DaVita repurchased 382,563 of its shares from Berkshire Hathaway for about $69 million. The October 27 transaction reduced Berkshire's holding to about 28.31 million shares while leaving it with a 45% stake in the kidney dialysis services provider.
2. Quarterly agreement
DaVita has an agreement to repurchase enough shares from Berkshire each quarter to lower Berkshire's ownership stake to 45%. Berkshire has owned DaVita shares since the fourth quarter of 2011.
