Osborne Clarke has advised Grifols on the deal.
Grifols signed an agreement with the Hong Kong’s Tiancheng International Investment Ltd. to acquire 100% of the shares of Tiancheng Pharmaceutical Holdings AG, which holds approximately a stake of 89.88% of Biotest ordinary shares and 1.08% of Biotest preferred shares for approximately EUR1.1bn.
Once the agreement is consummated (it is subject to closing conditions), Grifols will indirectly hold 89.88% of Biotest’s voting rights and 44.94% of the total share capital. Grifols has also announced that it will make a Voluntary Tender Offer for the remaining Biotest shares.
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