Press Release September 17, 2021

Grifols To Acquire Tiancheng Pharmaceutical Holding, Largest Shareholder of Biotest, for EUR1.1 Billion

The Frankfurt, London, and Hong Kong Private Equity teams are advising Tiancheng International Investment Ltd on its proposed sale of Tiancheng Pharmaceutical Holding AG to Grifols (MCE: GRF, MCE: GRF.P, NASDAQ: GRFS) for EUR 1.1 billion.

Tiancheng Pharmaceutical Holding AG is a German subsidiary of Hong Kong based Tiancheng International Investment Ltd and the owner of 89.88% of Biotest ordinary shares and 1.08% of Biotest preferred shares.

Biotest is a German public listed healthcare company specialized in innovative hematology and clinical immunology. The transaction values Biotest at approximately EUR 1.6 billion.

Grifols is a global healthcare leader in plasma-derived medicines, transfusion diagnostics, and hospital pharmacy solutions. Parallel to the Tiancheng acquisition it has launched a voluntary public takeover for all outstanding shares of Biotest.

The Goodwin team was led by Gregor Klenk and Carl Bradshaw, and included Angus Simpson, Felix Krueger, Quenie Hubert, Leota Walter, Alex Lindsay, Andy Lacy, Brady Cummins, Katherine Kissinger, Dulcie Daly, Hugh O’Sullivan, Matthew Birchall, Chi Pan, Bosco Yiu, Daniel Lindsey, Eugena Tong, Timothy Lam, and Cecilia Chen.

For more details, read the press release and articles in Bloomberg and Reuters.