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…

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…