France to Formally Screen CD&R Purchase of Sanofi Unit: Figaro
(Bloomberg) -- The French government is looking at options including state-owned investment bank BPIfrance taking a stake in the consumer health business that Sanofi is in talks to sell to US buyout firm Clayton Dubilier & Rice, Le Figaro reported on Monday.
Most Read from Bloomberg
Dubai’s Allure to Expats Is Weighing on City’s Infrastructure
The Master Plan That Shaped Pakistan’s Capital Is No Longer Working
The Cablebus Transformed Commutes in Mexico City’s Populous Outskirts
There will be a screening process and the deal won’t go ahead without authorization, the newspaper added, citing the Finance Ministry.
CD&R is nearing the purchase of a 50% controlling stake in the Opella unit, beating out French rival PAI Partners, in a deal that people familiar with the matter have said would value it at about €15 billion ($16.4 billion). The division sells over-the-counter medications, including pain reliever Doliprane, which is the most-used drug in France.
Sanofi shares pared some of their earlier gains, trading up 0.3% at 11:22 a.m. Paris time.
Most Read from Bloomberg Businessweek
How Airbnb Hosts and Frustrated Neighbors Can Find Common Ground
Jamie Dimon for Treasury Secretary: The Idea That Never Fades
©2024 Bloomberg L.P.