BEIJING, Dec. 7 (Xinhua) -- China's Shanghai RAAS Blood Products Co., Ltd. (002252.SZ) Thursday announced it will acquire part or all shares of Grifols Diagnostic Solutions Inc. (GDS), a U.S. subsidiary of Spanish blood-product giant Grifols, as well as a 100-percent stake in Tiancheng (Germany).
According to the announcement, GDS is valued at around 5 billion U.S. dollars, while Tiancheng (Germany) which owns about 90 percent of German-based blood products firm Biotest AG will be acquired for about 589 million euros.
Meanwhile, Shanghai RAAS plans to raise no more than 3 billion yuan (about 440 million U.S. dollars) from no more than 10 investors via private placement.
The company's stock resumed trading on Friday, after being suspended since February 23 this year.
Established in 1988, Shanghai RAAS was the first joint-venture blood products manufacturer in China, specialized in production, sales and the provision of testing services for blood products, vaccines, diagnostic reagents and testing equipment. (Edited by Li Wenxin, Yang Qi, liwenxin@xinhua.org)
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