BBVA, Grifols' trusted advisor for major dealsJanuary 24, 2014
BBVA Corporate & Investment Banking has acted as financial advisor to Grifols in its purchase of Novartis' blood transfusion diagnostics unit, headquartered in the US, for $1.675 billion. This is the world's leading plasma supplier's largest transaction in three years and second largest ever.
BBVA, which also advised Grifols on the acquisitions of Talecris (2010) and Progenika (2013), has issued
its fairness opinion to the Spanish company's Board of Directors on the creation of the new subsidiary. Funding for the acquisition is fully underwritten with a $1.5 billion bridge loan subscribed in equal parts by BBVA, Nomura and Morgan Stanley.
Included in the acquisition are patents, brands, licenses and royalties, as well as a production plant in Emeryville, California (US) and commercial offices in the US, Switzerland and Hong Kong, among others.
This marks the 23th M&A deal in which BBVA, "Best Investment Bank in Spain 2013" according to Global Finance awards, has acted as trusted advisor in the last year and its 43rd cross-border deal since 2010.