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Grifols, S.A. (0RDV.IL)

IOB - IOB Delayed price. Currency in EUR
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11.63-0.23 (-1.94%)
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  • Reuters

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

    MADRID (Reuters) -Spanish pharmaceuticals company Grifols proposed a 1.6 billion euro ($1.9 billion) takeover of its German rival Biotest on Friday, in a move to consolidate the plasma-based drug industry. Grifols said it had agreed with Tiancheng International Investment to buy the Hong Kong-based company's controlling stake in Biotest for 1.1 billion euros. The Barcelona-based company agreed to buy 89.88% of Biotest's ordinary shares that carry voting rights, but which represent only 44.54% of the company's capital, and a further 0.54% of capital in preferred shares that do not carry voting rights, from Hong Kong-based Tiancheng.