Grifols: sells two subsidiaries at cost price
(CercleFinance.com) - Grifols, the Spanish medical group, announced on 31 December the resale, at cost price, of two recently acquired plasma collection subsidiaries, Biotest US Corporation and Haema, to the Scranton Enterprises group for 537 million dollars, or about 470 million euros.
Scranton Enterprises is one of Grifols' largest shareholders, with 8.7% of the group's capital, according to a statement made in February 2016. The sale agreement includes an option to buy back both assets from the first anniversary of the transaction.
Grifols, whose shares are listed on the Madrid Ibex 35 index, recalls that it acquired both these companies in June and August 2018 for respectively 286 million dollars and 220 million euros.
The group mentions a monetisation of its recent strategic acquisitions, in order to strengthen its financial structure, while also mentioning potential external growth opportunities.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Scranton Enterprises is one of Grifols' largest shareholders, with 8.7% of the group's capital, according to a statement made in February 2016. The sale agreement includes an option to buy back both assets from the first anniversary of the transaction.
Grifols, whose shares are listed on the Madrid Ibex 35 index, recalls that it acquired both these companies in June and August 2018 for respectively 286 million dollars and 220 million euros.
The group mentions a monetisation of its recent strategic acquisitions, in order to strengthen its financial structure, while also mentioning potential external growth opportunities.
Copyright (c) 2019 CercleFinance.com. All rights reserved.