grifols

In Spain 2nd December 2024

Grifols negotiates refinancing of bonds maturing next year and €1.4 billion credit line with banks

Link Securities | Grifols (GRF) is in negotiations with banks to refinance bonds maturing next year and a credit line, for a combined amount of €1.4 billion, as confirmed by the CEO of the pharmaceutical company, Nacho Abia, in an interview with Bloomberg reported by the digital portal Bolsamania.com. Abia explained that the company’s ‘plan A’ is to obtain a refinancing agreement for the €370 million in bonds maturing in…

Spanish economy 28th November 2024

Grifols plummets on stock market after Brookfield abandons €6.5 billion takeover bid

The Canadian fund Brookfield has decided to withdraw its interest in a public exclusion offer to acquire Grifols due to disagreements over the price with the board of directors of the Spanish pharmaceutical company, as previously reported by Bloomberg. “After conducting a thorough due diligence and considering the reactions of the Grifols Transaction Committee and the Grifols Board of Directors regarding the potential offer communicated to the market on November…

In Spain 21st November 2024

Grifols believes Brookfield’s non-binding offer greatly undervalues fundamental prospects and long-term potential

Santander Credit Research | Grifols (B+ s, B+ s) yesterday informed the CNMV that it has received a non-binding offer from Brookfield that considers a price of €10.50 per class A share and a price of €7.62 per class B share, which would imply valuing Grifols’ equity at €6.5 billion. According to the relevant fact communicated to the CNMV, Brookfield last week sent letters to Grifols’ Transaction Committee, constituted by…

Spanish economy 18th November 2024

Brookfield closes refinancing of Grifols debt for €11,000 million with Deutsche Bank and Banco Santander

Link Securities | The Canadian private equity fund Brookfield has taken a definitive step to take control of GRIFOLS (GRF) through a takeover bid for 65% of the capital, as reported on Thursday by the newspaper ElConfidencial. According to sources close to the operation, the fund closed with Deutsche Bank and Banco Santander (SAN) the refinancing of the company’s debt of €11,000 million, the largest syndicated loan signed in Spain….

Spanish economy 15th November 2024

Brookfield obtains funds to refinance Grifols’ near €10,000 million debt

Bankinter | The Brookfield fund has agreed a syndicated loan for €11,000M with Santander and Deutsche Bank to finance Grifols’ €9,850 million of gross financial debt (and €9,200 million of net debt) Analysis team’s opinion: Positive news that improves the prospects for Brookfield to present the takeover bid for Grifols that it has been studying since July. The funds from the syndicated loan will be used to refinance the current…

In the World 6th November 2024

SEC concludes investigation into Grifols over Gotham City report, no penalties announced

Banc Sabadell : The Securities and Exchange Commission (American stock market regulator) reportedly concluded its investigation into Grifols (GRF) on 1 October, accepting the company’s explanations and without announcing any sanctions or the opening of any proceedings. We recall that the SEC began its investigation at the beginning of the year as a result of Gotham City Research’s accusations and, among other things, had asked GRF for ‘an accounting analysis…

In Spain 29th October 2024

Brookfield fund delays Grifols takeover bid for second time after failing to raise required €10,000 million

Bankinter | Brookfield fund has failed to raise the nearly €10,000 million needed to acquire 70% of the company and restructure the debt. This is negative news that casts doubt on whether there will be a takeover bid for Grifols. On 8 July we learned that Brookfield was analysing a takeover bid for Grifols, almost four months have passed since then. At the end of September, the fund asked the…

Relevant News Item 1st October 2024

Brookfield fund asks Grifols for more time to analyse takeover bid and complicates bidding process

Bankinter: The fund has sent a letter to the Board asking for an extension to be able to continue analysing this possible offer. Opinion of the analysis team: Negative news. On 8 July we learned that Brookfield was analysing a takeover bid for Grifols. Almost three months have passed since then and, possibly, a deadline agreed between both parties will expire, which justifies the fund’s request for an extension. The…

Spanish economy 26th September 2024

CNMV issues warning to Grifols, Gotham and General Industrial Partners fund for very serious breaches of law

Bankinter: The National Securities Market Commission (CNMV) has issued a warning to Grifols (GRF), Gotham and the General Industrial Partners (GIP) fund for very serious infringements. In the case of Grifols, according to the CNMV, the group provided information “with inaccurate or untruthful data or which omits relevant aspects in accordance” with accounting standards in the annual reports for 2021, 2022 and 2023, as well as in the accounts for…

Spanish economy 23rd September 2024

Brookfield fund extends study process for another month to decide whether to present takeover bid for Grifols

Bankinter | Brookfield has not obtained the necessary funds to present the takeover bid nor has it reached an agreement with the banks to refinance Grifols’ debt, which amounts to around €10,000 million, so it is to extend one more month the study process to decide whether to present a takeover bid for Grifols. Opinion of the analysis team: Negative news. On 8 July, we learned that Brookfield was analysing…

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