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GIC, a Singaporean investment organization, has made a $1 billion investment in Grifols, a pharmaceutical company based in the United States.
On July 2, 2019, a GIC symbol was shown at their results release in Singapore. Anshuman Daga/Reuters
Emma Pinedo contributed to this article.
30 June 2021
Grifols announced on Wednesday that Singapore’s wealth fund GIC has agreed to invest roughly $1 billion in Biomat, a U.S.-based plasma collection company owned by Grifols, making it a strategic investor in the Spanish pharmaceutical company.
Through the acquisition of freshly issued non-voting shares, GIC will have a minority ownership in Biomat USA, which operates a network of 296 plasma collection centers across the United States.
The business did not say how much of a stake GIC will have in Biomat.
Grifols, located in Barcelona, will use the proceedings to lower its debt, which amounted at 6.2 billion euros ($7.38 billion) at the end of March.
In early trade, Grifols shares were up 1.5 percent, while the benchmark Ibex-35 was down 0.7 percent. The market values the corporation at 13.5 billion euros.
Reuters
Pte Grifols SA Biomat GIC
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