Biotest AG: Grifols acquires majority of voting rights in Biotest
News: Biotest AG / Key word(s): Takeover
Grifols acquires majority of voting rights in Biotest
Dreieich, 25 April 2022. On 12 April 2022, Biotest AG notified that the last outstanding condition for the takeover offer of Grifols S.A. had been fulfilled.
Today Grifols SA announced that the voluntary takeover offer published on 26 October 2021 for the shares of Biotest AG was effectively completed. Grifols S.A. will hold 96.2% of the ordinary shares and 43.2% of the preference shares as of today.
"Biotest and Grifols share the ambition to provide patients with innovative treatment solutions in Haematology, Clinical Immunology and Intensive Care Medicine. Through the merger, Grifols and Biotest will be able to pool their existing experiences and resources in the field of human blood plasma therapeutics in order to increase the availability of theses life-saving medicines as well as to enlarge the product range. In particular, the opportunity to regain access the US as a result of the change of ownership is essential for Biotest's future growth," emphasises Dr Michael Ramroth, Chief Executive Officer and Chief Financial Officer of Biotest AG, adding "As Grifols states in the acquisition document, the aim is also to increase the resources available to Biotest's research and development departments in order to accelerate the current development projects for novel proteins such as IgM and Fibrinogen. With Grifols we can also increase the future manufacturing scale and commercial reach of these new drugs. This generates value and provides new exciting opportunities for both companies. We expressly support and welcome Grifols as new major strategic shareholder of Biotest."
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
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