Creat Explores Options for German Blood Plasma Firm Biotest (2)

China’s Creat Group Corp. is weighing options for its stake in German blood-plasma supplier Biotest AG, an attempt to unwind a years-long investment that was upended by U.S. intervention.

Biotest has been informed by its major shareholder Tiancheng International Investment Ltd., a unit of Creat, that it’s in the early stage of considering strategic options for its holding, the German company said in a statement Tuesday. The deliberations may not result in a transaction, according to the statement, which confirmed an earlier Bloomberg News report.

Creat is working with Bank of America Corp. on a potential sale of ...