Grifols, S.A. (BME:GRF) made an offer to acquire remaining 54.52% stake in Biotest Aktiengesellschaft (XTRA:BIO3) for approximately 810 million on September 17, 2021. Under the terms, Grifols will acquire in cash Biotests ordinary and preferred shares for 43 and 37, respectively. In a related transaction, Grifols, S.A. (BME:GRF) entered into a share purchase agreement to acquire 45.48% stake in Biotest Aktiengesellschaft (XTRA:BIO3) from Tiancheng International Investment Limited for 1.1 billion. To fund the transaction, Grifols has received a bridge financing commitment for 2 billion unsecured bridge financing commitment provided by BofA Securities. Grifols plans to explore its financing options for unsecured debt. This acquisition will improve Grifol's plasma economics and revenue per liter bringing innovative plasma proteins to drive revenue growth and margin expansion. Tomás Dagá, Oscar Calsamiglia, Núria Martín, Eduard Arruga, Miguel Lorán, Laura De La Cruz, Ignasi Bruguer, Matthias Elser, Fabian Christoph, Sebastian Hack, Joachim Breithaupt, Andrew Saul and Matthew Edwards of Osborne Clarke and Proskauer Rose LLP acted as legal advisors and Nomura Securities International, Inc. and UBS Europe SE acted as financial advisors to Grifols.