Bankinter | Moody’s has stopped rating Grifols’ debt because it believes it has “insufficient or inadequate” information to maintain its ratings. Thus, the agency withdraws Grifols’ corporate rating of ‘B3’ and the probability of default rating of ‘B3-PD’ and the other ratings (senior unsecured debt, secured debt and bank credit lines). Prior to the withdrawal, the outlook was ‘stable’ for all ratings. The Company continues to work with S&P and…

Banco Sabadell: According to press reports, a possible takeover bid for GRF, such as the one being prepared by Brookfield and the Grifols family, will have to obtain government approval. In addition, if approved, it could impose more or less demanding conditions such as no delisting, maintaining the company’s headquarters in Spain, the continuity of investments or the control of dividends. On the other hand, according to other sources, the…

Grifols (GRF) informed the National Securities Market Commission (CNMV) yesterday that on 7 July the Board of Directors of GRF, at an extraordinary meeting, received a request from GRF’s family shareholders and Brookfield Capital Partners (UK) Limited to allow access to certain company information in order to carry out a due diligence process in relation to a possible acquisition of GRF shares. The Board was informed that the purpose of…

Bankinter : Moody’s decision is motivated by “weak” liquidity, high leverage (6.8x EBITDA despite the recent sale of 20% of Shanghai RAAS), corporate governance with a “complex and opaque organisational structure”, highlighting the linked operations between Grifols, Scranton, Haema and BPC, and “slower than expected” free cash flow generation. In contrast, Fitch maintained its rating at B+ and upgraded the outlook from negative to stable. Assessment: News with a negative…

Bankinter: The capital gain amounts to approximately €250M. The proceeds of this transaction will be used to reduce debt. Grifols and Haier undertake not to transfer SRAAS shares for a period of 3 years. In relation to Grifols Diagnostic Solutions (GDS), in which SRAAS holds a 40% stake and Grifols a 60% stake, provided that Haier holds a 10% stake in SRAAS in 2024-2028, Grifols has committed to (i) achieve…

Banca March : The National Securities Market Commission (CNMV) announced that the review of Grifols’ accounts has detected some incorrect information – although it will not be necessary to restate the accounts – and is still pending the accounting analysis of the collaboration agreement with ImmunoTek, which could affect the profit and loss account. The regulator considers that the level of indebtedness is correctly reflected in the accounts and that…

JPMorgan has entered the capital of the Spanish pharmaceutical company with a 5.185% stake – some €250 million – and has become the company’s most important shareholder after the founding family. The descendants of the group’s founders hold 31% of the capital from four different holdings, controlled by the different branches of the family. According to the records of the National Securities Market Commission (CNMV), the investment bank has acquired…

Link Securities | The company sent a Significant Event to the National Securities Market Commission (CNMV) in which it stated that it once again categorically refutes Gotham’s malicious, false and misleading insinuations which have the sole aim of destabilising Grifols and provoking doubts among institutional investors. Grifols stated that it has already answered each of their malicious and misleading questions. Grifols’ Board of Directors continues to reiterate its strong commitment…

Renta 4| Grifols (GRF) has announced the appointment of Nacho Abia as the new CEO, replacing Thomas Glanzmann who will continue in the role of executive chairman. Nacho Abia, who will take up the position as of April 1, has more than 25 years of experience in the management of multinationals in the sector, having previously been responsible for global strategy at the listed Japanese company Olympus Corporation, a leader…