Grifols (ES:GRF) has released an update.
Grifols has successfully completed the sale of a 20% stake in SRAAS to Haier Group Corporation for approximately $1.8 billion, following all required approvals and due diligence. The funds from this deal will be channeled towards reducing Grifols’ debt, while preserving its commercial presence and agreements in China. Additionally, Grifols retains a non-independent director on the SRAAS Board and modifications to existing agreements, including a renewed 10-year distribution contract for human serum albumin in the Chinese market.
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