Subject: DVA forced sale to stay at 45%
Berkshire was forced to sell their stake down to 45% after DVA share buybacks reduced share count.
Feb 13 (Reuters) - Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab said on Thursday night it sold 203,091 shares of DaVita (DVA.N), opens new tab, reducing its holdings in the kidney dialysis services provider to about 35.89 million shares, a 45% stake worth nearly $6.4 billion.
In a regulatory filing, Berkshire said the February 11 sale was required pursuant to a share repurchase agreement, under which DaVita agreed on a quarterly basis to buy back enough shares to reduce Berkshire's ownership stake to 45%.