Kirkland & Ellis advises Creat on €940 Million Public Takeover of Biotest AG, SCHWEIBERT LESSMANN advises on labour and employment law

Together with Kirkland & Ellis Schweibert Leßmann has advised Creat Group Corporation, a Chinese investment group focused on long-term strategic investments in healthcare and pharma as well as manufacturing, energy, finance, natural resources and real estate, on the public takeover of Biotest AG, a supplier of plasma protein products and biotherapeutic drugs headquartered in Germany.

Tiancheng (Germany) Pharmaceutical Holdings AG, a subsidiary of Creat Group Corporation, announced today that it will enter into a business combination agreement with Biotest AG and plans a voluntary public takeover offer at a price of €28.50 per ordinary share and €19.00 per preference share.

The €940 million transaction is one of the largest investments by a Chinese company in the Western health sector.

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