Kirkland Advises Creat on €940 Million Public Takeover of Biotest AG

Kirkland & Ellis is advising 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.

Kirkland is advising Creat Group with an international team under the direction of Munich corporate partners Achim Herfs and Benjamin Leyendecker. The team also includes Munich corporate partner Anna Schwander and tax partner Oded Schein and associates Sina Becker, Sebastian Häfele, Maximilian Heufelder, Katharina Hohmann, Daniel Hiemer, Felix Keinath, Marlene Ruf and Isabel Ruttloff ; London corporate partner Rory Mullarkey and antitrust and competition partner Sarah Jordan and of counsel Michael Robert-Smith; Washington, D.C., international trade and national security partner Mario Mancuso and associate Lucille Hague; Chicago associates Nathan Davis and Robert B. McLellarn; and Beijing associate Bo Shang.