International legal practice Osborne Clarke has advised global healthcare leader Grifols on the 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.
Osborne Clarke's international team was led by key client partner Tomás Dagá, who was supported by Óscar Calsamiglia, Núria Martin, Eduard Arruga, Miguel Lorán, Laura de la Cruz and Ignasi Bruguer in Spain, alongside Matthias Elser, Fabian Christoph and Sebastian Hack and Joachim Breithaupt in Germany, and by Andrew Saul and Matthew Edwards in the UK.
Osborne Clarke is widely recognized by its experience in the life sciences and healthcare sector. The team advises at every stage of company development across all corporate areas, from equity and debt fundraising to M&A, IPOs and antitrust.