Grifols has announced that it has signed a strategic alliance with the Haier Group.

' The alliance, through Shanghai RAAS (SRAAS), will create synergies by combining Grifols' expertise and capabilities in pharmaceutical and diagnostic solutions with Haier's
innovative technology to strengthen and improve China's healthcare system ' says ke group.

Haier, with sales of 48.8 billion USD (350.6 billion RMB) in 2022, is a global innovation leader with a growing presence in the healthcare industry.

Under a share purchase agreement, Grifols will sell an approximate 20% stake in SRAAS to Haier for RMB 12.5 billion (approx. USD 1.8 billion) in cash, at a price of RMB 9.5 billion (approx. USD 1.5 billion), representing a premium of 14.96% to the SRAAS price.

Grifols will continue to hold a significant stake of approximately 6.58% in SRAAS, and will retain a seat on its Board of Directors.

The proceeds of this transaction will be used to reduce Grifols' debt.

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