Grifols fully consolidates both Haema and BPC Plasma, despite owning 0% of each company, while Scranton Enterprises, a Grifols-family vehicle, also fully consolidates BPC Plasmaand Haema at the same time, claims Gotham City Research in a newly-published short report. “Grifols’ Leverage is ~6x, as reported. We estimate it is closer to ~10x-13x. Wecalculate Scranton’s leverage to be 27x,” the short-seller states in the report.
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