MADRID, 6 May. (EUROPA PRESS) –

Grifols will close next June the sale of 20% of its stake in Shanghai RAAS Blood to Haier, through its subsidiary Qingdao Medical Haier Medical Technology, almost a week after the Catalan company “satisfactorily” completed the private placement of 1,000 million euros in senior secured bonds at 7.5%.

The closing of the transaction will take place after both companies complete “the usual government approval procedures, both national and international,” as reported by the Catalan firm in a press release.

Specifically, the blood products company has announced that the transaction is subject to the declaration of conformity of the Shenzhen Chinese Stock Exchange.

Through a share purchase agreement announced in December 2023, Grifols thus sells 20% of its stake in Shanghai RAAS to Haier for 12.5 billion RMB yuan (approximately 1.8 billion dollars and 1,671.5 million euros ).

Grifols and Haier will leverage their respective capabilities and collaborate to explore future business opportunities.

The transaction is still subject to confirmation of compliance to be issued by the Shenzhen Stock Exchange, which will be the previous step to the registration of share transfers in China Securities Depository and Clearing Co., Ltd.

The income derived from this divestment will be used, as the company announced a few weeks ago, to reduce Grifols’ secured debt maturing in 2025, contributing to the improvement of its financial stability.

COMPLETES ITS PRIVATE ISSUANCE OF 1,000 MILLION

Grifols announced last week that it had “satisfactorily” completed the private placement of €1 billion in 7.5% senior secured bonds, maturing in May 2030.

The firm detailed that these bonds were issued and that the amount of their disbursement has already been received, at a purchase price of 98.50% of the nominal amount.

As explained by the hemoderivatives company, the funds obtained from this transaction will be used to amortize the senior unsecured bonds maturing in May 2025.

Grifols had Osborne Clarke and Proskauer Rose LLP as legal advisors for this transaction, while Deutsche Bank was the company’s placement agent.