Grifols (NASDAQ: GRFS), the Spanish drugmaker, plans to invest 360 million euros ($401.98 million) to build a new industrial plant in Barcelona for its engineering department, newspaper El Economista said on Monday, citing unidentified company sources.
Grifols is seeking to centralize operations currently dispersed across different locations, El Economista said.
The works are scheduled to start next year and the facility will be ready by the end of the decade, the newspaper reported.
A spokesperson did not respond to a request for comment.
The Grifols founding family, which owns about 30% of the company, and Canadian fund Brookfield agreed in July to evaluate a possible joint takeover bid for Grifols with the intent to delist it.
Grifols (NASDAQ: GRFS) lost a third of its market value in January when short-seller fund Gotham City Research started releasing reports accusing Grifols of overstating earnings and understating debt. Following the reports Grifols announced governance changes and revised its reported leverage higher.
($1 = 0.8956 euros)
(Source: Reuters)
Mark Glenn is a financial journalist and breaking news reporter for ABBO News. Mark is known for his ability to deliver real-time news updates on market developments, mergers and acquisitions, corporate earnings reports, and regulatory changes, helping investors stay informed and make sound financial decisions.
