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NEW YORK (GenomeWeb) – Grifols said on Thursday that it will acquire a 26.2 percent stake in Shanghai RAAS as part of a strategic alliance agreement to manufacture, market, and develop plasma products and transfusion diagnostic solutions in the Chinese market.

Under the agreement, Grifols will acquire its stake in Shanghai RAAS in exchange for 45 percent of the economic rights and 40 percent of the voting rights of Grifols Diagnostic Solutions, its US subsidiary. Grifols Diagnostic Solutions' valuation is $4.28 billion, and the price per share of Shanghai RAAS is RMB 7.50.

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