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"Grifols' New Auditor Discovers Non-Cash Accounting Discrepancy Linked To China Stake; Spanish Company To Report Adjustment Related To China Stake; Discrepancy In Reserves Accounting Found By Auditor Deloitte" - Bloomberg News

Author: Benzinga Newsdesk | July 30, 2024 08:24am

https://www.bloomberg.com/news/articles/2024-07-30/grifols-new-auditor-finds-non-cash-accounting-discrepancy-linked-to-china-stake

Spain's Grifols SA is set to report an unexpected accounting adjustment related to its stake in Shanghai RAAS, according to a person familiar with the matter.

The company recorded €400 million ($433 million) more than it should have for the value of an asset owned by the Chinese firm, the person said, asking not to be named discussing private information. The adjustment, set to be announced as soon as Tuesday, will not affect Grifols' profit and loss statement, the person said.

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