The firms prepping Grifols’ Biotest offer – Reuters

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The logo of the Spanish pharmaceuticals company Grifols on their headquarters’ building in Sant Cugat del Valles, near Barcelona, Spain, September 17, 2021. REUTERS/Albert Gea

  • Osborne Clarke, Proskauer Rose advise return client Grifols
  • Goodwin advises Biotest’s largest shareholder

(Reuters) – At least three law firms have teamed up for Spanish pharmaceuticals company Grifols’ offer to purchase German rival Biotest in an up to 1.6 billion euro ($1.9 billion) deal consolidating the plasma-based drug industry.

Grifols has tapped repeat advisers Osborne Clarke and Proskauer Rose for guidance on the proposed acquisition, which was announced on Friday, with Goodwin Procter pairing up with Biotest’s largest shareholder.

Osborne Clarke and Proskauer Rose previously advised Grifols on the roughly $1 billion strategic investment Grifols subsidiary and plasma center operator received from Singaporean sovereign wealth fund GIC, according to June press releases.

On the other side of Grifols’ proposed deal, Tiancheng Pharmaceutical Holding, Biotest’s largest shareholder, is working with a Goodwin team led by private equity partners Gregor Klenk and Carl Bradshaw.

Grifols’s financial advisers are Nomura Securities International Inc and UBS Europe SE.

Read more:

Spain’s Grifols to buy rival Biotest for up to $1.9 billion

Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. Reach her at sierra.jackson@thomsonreuters.com