Cuatrecasas, Gonçalves Pereira advises Progenika on selling 60% of its share capital to Grifols

2013年3月4日

Cuatrecasas, Gonçalves Pereira advised Progenika shareholders on selling 60% of its share capital to Grifols
Cuatrecasas, Gonçalves Pereira advised Progenika shareholders on selling 60% of its share capital to Grifols

Transaction valued at €37 million

 

Cuatrecasas, Gonçalves Pereira advised Progenika Biopharma’s shareholders on selling 60% of its share capital to Grifols, a multinational company specializing in blood-plasma products, for €37 million. Grifols paid half of the amount in cash and the other half in shares with no voting rights. Under the transaction, Grifols was granted rights to an option to buy the shares representing approximately 35% of the share capital, and the selling shareholders were granted rights to sell these shares, once three years have passed and at the same price under the transaction plus an annual increase of 5%.

 

The Bilbao team of Cuatrecasas, Gonçalves Pereira’s Corporate and Commercial Practice led this transaction. Luis Alba, a partner of the Corporate and Commercial Practice, considers this transaction positive, “as it enables Progenika to continue to be a pioneering medical technology company in conjunction with the international benchmark company Grifols.” Associates Rocío Cruces and Mikel Mendiola completed the team specializing in mergers and acquisitions that advised the sellers of the Basque company.

 

Progenika Biopharma is a leading biotechnology company in personalized medicine; it designs and produces genomic tests for in vitro diagnostics, disease prognosis, response prediction and therapeutic drug monitoring. Grífols is the world’s third producer of plasma-derived biological pharmaceuticals and a pioneer in the research and development of alternative therapeutic drugs.

 

Photo credit: kaibara87 / Foter.com / CC BY

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