France is reportedly set to acquire a small stake in Sanofi SA's (ADR) (NYSE:SNY) consumer healthcare unit as the pharmaceutical company proceeds with a €16 billion deal to sell half of the business to US private equity firm Clayton, Dubilier & Rice (CD&R), despite political opposition.
Sanofi entered exclusive talks with CD&R to sell 50% of Opella, the division behind well-known products like Doliprane, a popular painkiller in France.
According to the Financial Times, French investment bank Bpifrance will purchase a 2% share of Opella, following concerns raised about foreign control and job security in the country.
Economy Minister Antoine Armand announced that the government secured assurances that Opella's operations will remain in France.
Despite a higher late bid from French competitor PAI, CD&R’s offer, valuing Opella at €16 billion, prevailed. The deal is expected to close in mid-2025, pending regulatory approvals.