As a result of conversations maintained with the Chinese pharmaceutical company Shanghai RAAS, Grifols has reached an agreement to buy assets through a share issue. Grifols will acquire 26.2% of economic and voting rights in Shanghai RASS (in total valued at 3.8 billion euros), contributing 45% of economic rights and 40% of voting rights of its US subsidiary Grifols Diagnostic Solutions (in total valued at 5 billion euros).
In this way the capital of Shanghai RAAS will become: 26.7% Create Group, 26.2% Grifols and 25.8% RAAS China Limited. On the other hand, Grifols will continue to hold 60% of the voting rights in Grifols Diagnostic Solutions.
The Asian pharmaceutical company specialises in the investigation, production and sale of blood products, and is the leader in China. It counts on 41 plasma collection centres and a fractionation capacity of more than 2 million litres.
In addition, a Strategic Exclusivity Alliance has been signed to formalise the quality and production standards which Shanghai RAAS must follow, under Grifol´s supervision.
As a result of this alliance, Shanghai RAAS will be the exclusive distributor of Grifols bioscience and diagnostic products in China. The operation fits in with the plans for expansion and access to plasma in which the company is immersed. The operation depends on approval by the competent regulatory authorities (China and US).