FRANKFURT, April 4 Fresenius Medical Care
, the world's largest dialysis group, said it would buy
back shares worth as much as 385 million euros ($494.65 million)
over the next six months using cash and existing loans.
It also said on Thursday it plans to do away with its
non-voting preference shares, accounting for about
1.3 percent of its total share capital, as part of a move to
improve its capital structure.
It said a major preference shareholder holding about 77
percent of the outstanding preference shares, who it said was a
European financial institution, has agreed to support the plans
and to pay a conversion premium.
($1 = 0.7783 euros)
(Reporting by Maria Sheahan)