[Asia Economy Reporter Cho Hyun-ui] Green Cross Holdings announced on the 5th that it received $460 million (approximately 537.7 billion KRW) from the sale of its North American subsidiary shares to the Spanish blood products company 'Grifols' on the 1st. This comes three months after the two companies signed the stock sale agreement.
Green Cross Holdings explained that this sale is the result of solid management focused on strategically responding to changes in the external environment.
The company plans to secure financial soundness by eliminating the impact of profit and loss items from its North American affiliates. The North American blood products division structure will be concentrated on its largest subsidiary, GC Green Cross.
Yeo Yong-jun, CEO of Green Cross Holdings, stated, "The secured funds will be used for management efficiency and investment in new businesses."
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