Haier Receives Authorization from the Cnmc to Buy 20% of Shanghai Raas from Grifols

The National Markets and Competition Commission (Cnmc) has authorized in the first phase the purchase of 20% of Grifols‘ stake in Shanghai Raas Blood by Haier, through its subsidiary Qingdao Medical Haier Medical Technology, as stated in the records of the organization chaired by Cani Férnández.

Read more about the agreement between Grifols and Haier and find the most important financial news of the day with our companion app Born2Invest.

In this way, the Cnmc approves the operation notified by Haier on February 7th, perceiving that there are no problems for competition

Grifols announced in mid-January that the Chinese company Haier had confirmed that it would purchase the majority, 20%, of its stake in Shanghai Raas Blood, as planned before the accusations by the analysis firm Gotham City Research against the company. blood products company .

The Spanish firm stated that the operation is progressing as planned and plans to close it “in the first half of 2024, as has already been communicated to the market,” according to the information sent to the National Securities Market Commission (CNMV).

Grifols assures that Haier is contractually obliged to execute the purchase

Grifols explained that the Strategic Alliance and Share Purchase Agreement signed with Haier on December 29th, 2023 is “binding” and that both parties are contractually obliged to fulfill their obligations.

Specifically, the Spanish firm will give 20% of Shanghai Raas to Haier for about $1.8 billion (almost 1.63 billion euros) .

“If the closing conditions are met and one of the parties refuses to close the transaction, this would constitute a material breach of the Agreement and would involve legal claims,” he warned.

In the background, Grifols’ litigation against Gotham continues in a New York district court, as well as the wait for a response from the CNMV on the legality of the consolidation of the accounts of two companies under the control of a family holding company. Catalan.

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(Featured image by Ibrahim Boran via Unsplash)

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First published in PlantaDoce. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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