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….

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…

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…

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…

Bankinter | Flat Footed, Mason Capital Management and Sachem Head funds jointly control 7.7% of Grifols (GRF) and have asked for a seat on the Grifols board. Their objective is to monitor the takeover bid process being analysed by Brookfield and to ensure that a high premium is paid. Opinion of the Bankinter analysis team: Negative news and a new complication in the development of the possible takeover bid for…

Norbolsa | Brookfield seeks €2,000 million of capital for the eventual takeover bid for Grifols. The funds would be used to alleviate the group’s financial burden. Currently in the analysis phase, if it goes ahead it will be the largest operation of the year in Spain. To this end, Brookfield has held talks with some of the world’s leading sovereign wealth funds, including Abu Dhabi’s ADQ and Singapore’s GIC, as…

Bankinter | The company has announced that it will not hold its Investor Day. The date was scheduled for 10 October. The reason given is the negotiations with the Brookfield fund to launch a delisting takeover bid for the company’s shares. Analysis team’s opinion: This is news that in another situation would be negative. In the current situation the impact is minor, the only important thing now is whether the…