GRFS - Haier Group still looking to buy Shanghai RAAS stake Grifols says

2024-01-15 03:28:37 ET

Spanish plasma therapeutics company Grifols ( NASDAQ: GRFS ) said on Sunday Haier Group still plans to close the acquisition of a 20% stake in Shanghai RAAS Blood Products amid speculations on the $1.8B deal.

In December 2023, Grifols ( GRFS ) announced an agreement to sell ~20% of its equity stake in Shanghai RAAS to Haier Group for about RMB 12.5B ($1.8B) in cash. The firm currently owns 26.58% in Shanghai RAAS.

In a filing to the Spanish stock market regulator, Grifols quoted Haier Group's chairwoman saying: "We continue to work to close the deal as originally planned."

The deal agreement does not include pre-agreed penalties if it fell through. Grifols ( GRFS ) did not immediately respond to Seeking Alpha's request for comment.

Speculations on the deal arose after Grifols ( GRFS ) shares fell in response to a report from short-seller Gotham City which alleged that the Spanish company "manipulated" its debt and EBITDA figures to "artificially" lower its leverage.

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