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Grifols sells 2 businesses to shareholder Scranton Enterprises for $537M

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Grifols sells 2 businesses to shareholder Scranton Enterprises for $537M

Spanish biotechnology company Grifols SA said it sold two businesses it acquired earlier this year to its existing shareholder Scranton Enterprises BV.

Scranton will pay $537 million for the businesses, effectively the same price Grifols paid when it acquired Haema AG for €220 million in June and Biotest US Corp. for $286 million in August.

Biotest and Haema will continue to provide plasma to Grifols under a supply agreement that has been extended to a 30-year period. Grifols also has the ability to repurchase the businesses.