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German blood plasma firm Biotest in takeover talks with China's Creat
March 30, 2017 / 6:50 AM / 6 months ago

German blood plasma firm Biotest in takeover talks with China's Creat

FRANKFURT, March 30 (Reuters) - Blood plasma products maker Biotest is in talks to be taken over by Chinese investor Creat Group Corp, which last year bought the German company’s British peer Bio Products Laboratory.

Creat has proposed a purchase price of 28.50 euros per ordinary share and 19.00 euros per preference share , Biotest said in a statement late on Wednesday.

The ordinary and preference shares on Wednesday closed at 19.99 euros and 19.02 euros, respectively.

Biotest, whose products are used to treat blood coagulation disorders, auto-immune diseases and immune deficiencies, said the potential deal was still subject to final negotiations and an agreement with Biotest AG’s majority shareholder, OGEL GmbH, among other measures.

Creat agreed in May last year to acquire British biotech firm Bio Products Laboratories (BPL) from Bain Capital for 820 million pounds ($1.02 billion). ($1 = 0.8044 pounds) (Reporting by Ludwig Burger)

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