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Grifols goes public after announcing that it will sell a part of RAAS, its Chinese subsidiary

Date: May 20, 2024 Time: 08:20:12

Grifols takes a first step in its divestment process. The blood products company has announced that it is negotiating the sale of a stake in RAAS, its Chinese subsidiary, for around 1,500 million dollars (around 1,389 million euros). “Grifols is planning important changes that will imply modifications in the shareholding structure of Shanghai RAAS. As of today, the possible corporate operation is in the planning phase and there are still uncertainties surrounding it,” he said in a statement sent to the National Stock Market Commission (CNMV).

Investors have received this first step with optimism, which represents an effort for the company within its plan to reduce leverage to 4 times EBITDA by the end of 2024, compared to the current 7 times. The titles of the Catalan group rebound more than 8.7% and are placed above 12 euros.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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