Fresenius says makes 34 mln eur post-tax gain from Rhoen stake
FRANKFURT, July 2
FRANKFURT, July 2 (Reuters) - Fresenius on Wednesday said it had made an after-tax gain of approximately 34 million euros ($46.38 million) from the sale of a 5 percent stake in rival Rhoen-Klinikum.
Total proceeds from the stake sale amounted to 160 million euros, and will be used to redeem existing debt, Fresenius said in a statement.
The divestment comes after Fresenius abandoned plans to take over Rhoen after striking a deal instead to buy most of its clinics. ($1 = 0.7331 Euros) (Reporting by Edward Taylor and Andreas Kroener; Editing by Elaine Hardcastle)