Grifols plans to take control of the Chinese giant Shanghai RAAS

The Catalan multinational Grifols admitted yesterday that it had started talks with the RAAS company of Shanghai, the leading company in China in the production of plasma drugs. The company sources said that the idea is to take control of the Chinese company and, if all goes well, the transaction, worth about $ 5 billion (about 4,380 million euros) , could be closed during the first half of 2019.

In a communication to the National Securities Market Commission, Grifols explained that the integration with Shanghai RAAS would mean that the Catalan listed company would supply its American subsidiary Grifols Diagnostic Solutions and its subsidiaries, worth approximately 5,000 million dollars, to the Chinese company.

Shanghai RAAS is a pharmaceutical company specializing in the research, production and sale of plasma products for therapeutic use in the areas of immunology, hematology and intensive care, and has 41 plasma collection centers in China. The group, which is listed on the Shenzhen Stock Exchange, has a capacity to split more than 2 million liters of plasma and has collected 1.1 million liters last year.

Initial agreement

With the operation, Grifols would be strengthened in China, while Shanghai RAAS will be able to diversify its business. In his statement Grifols indicated that in exchange for the transfer of its subsidiary Grifols Diagnostic, the Catalan company would receive new broadcasting titles from the RAAS in Shanghai, but without going into details. Grifols indicated that it is an "initial agreement for cooperation", but that "the structure of the operation and the corresponding process of due diligence ".

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