Tiancheng International Investment / Biotest AG merger inquiry

The CMA has investigated and cleared the completed acquisition by Tiancheng International Investment Limited (part of Creat Group Co., Ltd.) of Biotest AG.

• From: Competition and Markets Authority
• Published: 2 February 2018
• Last updated: 5 June 2018 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Pharmaceuticals
• Outcome: Mergers - phase 1 clearance
• Opened: 2 February 2018
• Closed: 5 June 2018

Statutory timetable

Phase 1 Date	Action
5 June 2018	Decision published
15 May 2018	Decision announced
20 April 2018	Revocation of initial enforcement order
23 March 2018	Invitation to comment
23 March 2018	Launch of merger inquiry
2 February 2018	Initial enforcement order

Phase 1

CMA clearance decision

15 May 2018: The CMA has cleared the completed acquisition by Tiancheng International Investment Limited (part of Creat Group Co., Ltd.) of Biotest AG. The full text of the decision is available below.

• Full text decision (5.6.18)

Revocation of initial enforcement order

20 April 2018: In view of the evidence available to the CMA at this stage, the CMA has revoked the initial enforcement order.

• Revocation order (23.4.18)

Invitation to comment: Now closed

23 March 2018: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

Launch of merger inquiry

23 March 2018: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement of initial period notice (23.3.18)

Initial enforcement order

On 31 January 2018 the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Tiancheng (Germany) Pharmaceutical Holdings AG and Bio Products Laboratory Holdings Limited, both subsidiaries of Creat Group Co., Ltd., in relation to the completed acquisition by Tiancheng International Investment Limited (also part of Creat Group Co., Ltd.) of Biotest AG.

• Initial enforcement order (2.2.18)

Amendments/consents granted:

• Derogation 2 February 2018 (5.2.18)

Contact

Please send written representations about any competition or public interest to:

Rosy Cheetham
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD

rosy.cheetham@cma.gsi.gov.uk

Published 2 February 2018
Last updated 5 June 2018 + show all updates

1. 5 June 2018

   Full text of the decision published.

2. 15 May 2018

   Clearance decision announced.

3. 23 April 2018

   Revocation order published.

4. 23 March 2018

   Commencement of initial period notice published.

5. 5 February 2018

   Derogation published

6. 2 February 2018

   First published.