Haier Group still looking to buy Shanghai RAAS stake, Grifols says

Victor Golmer/iStock Editorial via Getty Images 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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