Grifols AS (NASDAQ: GRFS), a Spain-based global leader in the production of blood products, has announced the completion of a significant transaction where it sold a 20% stake in Shanghai RAAS Blood Products Co., Ltd (SHE: 002252) to Haier Group, a Chinese electronics and appliances conglomerate, for RMB 12.5 billion (EUR 1.6 billion). Following this transaction, Grifols maintains an equity stake equivalent to 6.58% of the actual shares of Shanghai RAAS and retains a seat on the board.
In addition to the sale, Grifols has forged partnerships with the two Chinese companies, indicating a strategic alignment and ongoing collaboration. The relationship between Grifols and Shanghai RAAS spans four years, with the latest agreement focusing on albumin distribution expected to span a decade. Shanghai RAAS holds the option to extend this partnership agreement through to 2044.- Flcube.com
