Grifols advances in the purchase of Biotest and reaches 96.2% acceptance in the takeover bid


Share post:

BARCELONA, Jan. 26 (-) –

Grifols continues to advance in the purchase of Biotest after obtaining a degree of acceptance in the Public Acquisition Offer (OPA) of 96.20% of the voting rights and having 69.72% of the share capital, according to a statement from the business this Wednesday.

This degree of acceptance has occurred after the agreement to acquire the entire share capital of Tiancheng (Germany) Pharmaceutical Holdings AG and the end of the acceptance period for the takeover bid for the rest of the shares.

In addition, the offer has been accepted by 43.24% of the preferred shares, and given that 95% acceptance has been exceeded, a period of forced purchase (‘put period’) has been opened for the rest of the shares ordinary that ends on April 21, 2022.

In September 2021, Grifols agreed to acquire the entire share capital of Tiancheng (Germany) Pharmaceutical Holdings AG for €1.1 billion, which owns 90% of the ordinary shares and 1% of the preferred shares of Biotest AG .

In December 2021, Biotest’s Management Board and Supervisory Board recommended accepting Grifols’ takeover bid.

Biotest currently has 28 plasma donation centers in Europe and the investment is expected to boost Grifols’ performance, reaching combined revenues of more than €7 billion by 2024.

In addition, Grifols estimates indicate that the operation will contribute to improving profitability and income per liter of plasma, from which more proteins that are not currently used will be used, and that it will generate an increase in income and margins from 2023 due to the launch of new products.

Related articles