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Grifols considers selling 2 bln euros worth of assets to cut debt, Cinco Dias says

Reuters
·1 min read

MADRID, Dec 14 (Reuters) - Spanish pharmaceutical company Grifols considers selling assets worth about 2 billion euros ($2.12 billion) to cut its debt, Cinco Dias reported on Wednesday, citing unidentified financial sources.

The company may sell its Chinese business and its diagnoses unit, Cinco Dias reported.

A spokesperson for the company declined to comment though in November Grifols said it was committed to reducing its 9.4 billion net debt.

The company said there were alternatives under consideration to optimize its global assets.

The company, which uses blood plasma to make medicines, is struggling to recover from the severe blow out its business during the pandemic when blood collection was halted in many countries.

The company, whose shares has lost 36% of its value so far this year, has discarded raising funds through a capital increase.

($1 = 0.9413 euros) (Reporting by Inti Landauro)