Rhoen should buy shares to return cash to investors - chairman

FRANKFURT Mon Nov 18, 2013 2:03am EST

Related Topics

FRANKFURT Nov 18 (Reuters) - Germany's Rhoen-Klinikum should buy up its own shares and cancel them to return cash to shareholders from the sale of hospitals to rival Fresenius, Chairman and founder Eugen Muench told a German newspaper.

"Whoever wants to sell his shares could then expect an offer of around 28 euros per share, that would be an attractive price," Sueddeutsche Zeitung quoted Muench as saying in an interview published on Monday.

Shares in Rhoen have advanced by 32 percent so far this year and ended Friday's session at 20.245 euros.

Muench in September hammered out a deal to sell hospitals accounting for about two thirds of Rhoen's revenues to healthcare group Fresenius for 3.07 billion euros ($4.14 billion).

He told Sueddeutsche Zeitung that minority shareholders would benefit more from a share buyback than a special dividend because they would have to pay less tax on the gain.

($1 = 0.7421 euros) (Reporting by Maria Sheahan; Editing by Mark Potter)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.