Cerberus Announces Its Support of the Merger of Grifols and Talecris

Jun 07, 2010, 10:38 ET from Cerberus Capital Management, L.P.

NEW YORK, June 7 /PRNewswire/ -- Cerberus Capital Management, L.P. commented today on the announcement that Grifols S.A. has entered into an agreement to acquire its portfolio company Talecris Biotherapeutics Holding Corp. for a combination of cash and newly issued Grifols non-voting shares. Cerberus controls an affiliate that owns approximately 49% of the outstanding common stock of Talecris.

"We are excited about the prospect of becoming shareholders of Grifols. Led by Victor Grifols, Grifols has long been known as a leading innovator in the plasma-derived protein therapeutics field," commented W. Brett Ingersoll, Co-Head of Private Equity at Cerberus. "Victor Grifols and his management team have over thirty years of working together and proven experience in building and managing a best-in-class company. We are confident that the Grifols team, coupled with the proven team at Talecris, will continue to build value for the combined company and its shareholders, including Cerberus."

Steven F. Mayer, also Co-Head of Private Equity at Cerberus, stated, "We had been very satisfied with the prospects of Talecris as a standalone entity but the business logic behind the merger with Grifols is too compelling to ignore. The companies have complementary geographic footprints, with Talecris' strength in North America augmenting Grifols' strength internationally, and each have premium products but in distinct therapeutic categories. The combined companies will benefit from significant synergies, permitting the companies to increase volumes of key therapies and capture operating efficiencies, which will benefit the patient community."

The Cerberus affiliate, which will become a significant shareholder of Grifols, has agreed, subject to certain conditions, to vote its Talecris shares in favor of the merger.

About Cerberus Capital Management, L.P.

Established in 1992, Cerberus Capital Management, L.P., along with its affiliates, is one of the world's leading private investment firms with approximately $23 billion under management. Through its team of investment and operations professionals, Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation. Cerberus is headquartered in New York City with affiliate and/or advisory offices in the United States, Europe, the Middle East and Asia.  

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For Cerberus Capital Management, L.P.


Peter Duda, John Dillard

Weber Shandwick

(212) 445-8213; (212) 445-8052

Cerberus Media Line: (212) 891-1558

media@cerberuscapital.com



SOURCE Cerberus Capital Management, L.P.