Grifols completes sale of a 20% equity stake in SRAAS and forges strategic alliance with Haier Group
Summary
The deal has received all necessary regulatory approvals and compliance confirmation from the Shenzhen Stock Exchange.The alliance will leverage synergies between Grifols industry-leading plasma and diagnostic excellence and Haier Groups preeminent portfolio of healthcare solutions to innovate and contribute to SRAAS growth in the long run.Through a share purchase agreement Grifols has sold a 20% equity stake in SRAAS to Haier Group for RMB 12.5 billion (approximately EUR 1.6 billion) cash consideration. Chinas demand for albumin is significant and the demand is expected to grow significantly in the coming years.Grifols and SRAAS have collaborated successfully over the last four years as the Chinese hemoderivatives market has continued its booming double-digit growth.With this transaction, first announced in December 2023, Grifols maintains its presence in China and its commercial agreements with SRAAS while it will comply with its commitment to deleverage.We are delighted to close the transaction and welcome Shanghai RAAS to the Haier healthcare family today. We look forward to working with Haier as we leverage our respective capabilities to explore future business opportunities, said Thomas Glanzmann, Grifols Executive Chairman.Grifols retained Osborne Clarke, S.L.P. The company also supplies tools, information and services that enable hospitals, pharmacies and healthcare professionals to efficiently deliver expert medical care.Grifols, with more than 23,000 employees in more than 30 countries and regions, is committed to a sustainable business model that sets the standard for continuous innovation, quality, safety, and ethical leadership.The companys class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex-35 (MCE:GRF). These expressions reflect the assumptions, hypotheses, expectations and predictions of the management team at the time of writing this report, and these are subject to a number of factors that mean that the actual results may be materially different.