Grifols Reaches Strategic Alliance And Share Purchase Agreement With Haier Group Corporation For Sale Of Approximately 20% Equity Stake In Sraas For RMB 12.5B (Approximately $1.8B)
Portfolio Pulse from Benzinga Newsdesk
Grifols has entered into a strategic alliance and share purchase agreement with Haier Group Corporation, selling about a 20% equity stake in Shanghai RAAS Blood Products Co., Ltd. (SRAAS) for RMB 12.5 billion, approximately $1.8 billion.
December 29, 2023 | 10:12 am
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Grifols' sale of a 20% equity stake in SRAAS to Haier Group for $1.8B could provide a significant cash influx, potentially improving its financial flexibility and enabling further strategic investments or debt reduction.
The sale of a substantial equity stake in a major asset like SRAAS is likely to be viewed positively by investors, as it provides Grifols with a significant amount of cash. This could be used to strengthen the company's balance sheet, reduce debt, or invest in growth opportunities, which may lead to a positive short-term impact on Grifols' stock price.
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