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GRIFOLS Grifols acquires Tiancheng Pharmaceutical Holdings , the largest shareholder of Biotest , to increase patients ' access to plasma therapies • Grifols agrees to acquire the existing share capital of Tiancheng ( Germany ) Pharmaceutical Holdings for EUR 1,100 million . Tiancheng ( Germany ) Pharmaceutical Holdings is the owner of 90 % of Biotest ordinary shares and 1 % of Biotest preferred shares • The transaction values Biotest's Equity at EUR 1.6 billion . Grifols launches a voluntary tender offer for the shares of Biotest • . Biotest is a German public listed healthcare company specialized in innovative hematology and clinical immunology with an attractive pipeline with novel proteins that complement Grifols ' product portfolio By joining forces , Biotest and Grifols will increase plasma therapies availability , ensuring greater patient access to plasma medicines across the world • This acquisition will notably strengthen Grifols ' industry positioning by accelerating and expanding its pipeline and commercial footprint and allowing the company to improve its plasma economics and margins • Innovative therapies , revenue and cost synergies are projected to create additional significant value , driving revenue growth and margin expansion : over EUR 7 billion in combined revenues , more than EUR 2 billion in EBITDA , 30 % + EBITDA margin and a leverage ratio below 3.5x by 2024 • The transaction is subject to regulatory approvals and conditions and is expected to close by the end of the first semester of 2022 Barcelona ( Spain ) , September 17 , 2021.- Grifols ( MCE : GRF , MCE : GRF.P , NASDAQ : GRFS ) , a global healthcare leader with a track record of more than 110 years dedicated to enhancing people's health and well - being and a forerunner in plasma - derived medicines , transfusion diagnostics and hospital pharmacy solutions , today announced its agreement with Tiancheng International Investment Ltd. ( private company registered in Hong Kong ) to acquire 100 % of the shares of Tiancheng ( Germany ) Pharmaceutical Holdings AG , German company owner of 89.88 % of Biotest ordinary shares and 1.08 % of Biotest preferred shares for EUR 773 million and a loan in the amount of EUR 313 million . Page 1 of 5