Requested squeeze-out under takeover law for Biotest ordinary shares: hearing before the District Court of Frankfurt am Main on October 27, 2022

by Attorney-at-Law Martin Arendts, M.B.L.-HSG

The Biotest majority shareholder Grifols S. A., Barcelona, had applied to the District Court of Frankfurt am Main pursuant to Section 39a of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG), 

the ordinary shares of Biotest AG, (ISIN DE0005227201), which it does not already own directly or indirectly, be transferred to the applicant by way of a resolution pursuant to Sections 39a para. 1, sentence 1, 39b para. 5 sentence 3 WpÜG against payment of compensation in the amount of EUR 43.00 per ordinary share.

This squeeze-out under takeover law of the Biotest ordinary shares held by the minority shareholders (which, according to the application, does not affect the preference shares) is to be discussed before the 5th Chamber for Commercial Matters of the District Court of Frankfurt am Main on October 27, 2022. The Biotest minority shareholders involved in the proceedings have until August 11, 2022 to submit their comments. 

District Court of Frankfurt am Main, Case No. 3-05 O 19/22
representative of the applicant Grifols S.A.:
law firm Osborn Clarke, 200359 Hamburg, Germany