1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 ReadFILE PHOTO: The GIC Pte Ltd logo is displayed on a skyscraper in Singapore on July 6, 2017. Darren Whiteside/Reuters (Reuters) – MADRID (Reuters) – 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. GIC’s ownership in Biomat will be kept a secret, according to the business. 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. Emma Pinedo contributed reporting, and Inti Landauro edited the piece. Continue reading
