Sanofi Signs Share Purchase Deal To Sell 50% Controlling Stake In Opella To CD&R

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(RTTNews) - French drug major Sanofi (SNYNF, SNY) announced Wednesday that it has signed the share purchase agreement for the sale of a 50% controlling stake in its consumer healthcare business, Opella, to private equity firm CD&R.

In October last year, the company had announced that it has entered into exclusive negotiations to sell the stake in Opella to CD&R. The valuation of Opella was then based on an enterprise value of 16 billion euros.

Sanofi now said the agreement follows completion of the required social and corporate procedures.

Bpifrance is expected to participate as a minority shareholder with around 2% stake in Opella, with Sanofi remaining a significant shareholder.

The terms of the transaction remain unchanged from those previously disclosed.

The deal closure is expected to take place in the second quarter at the earliest.

Sanofi noted that the transaction remains subject to obtaining customary regulatory approvals from the competent authorities.

Headquartered in France, Opella employs over 11,000 people and operates in 100 countries, supported by 13 strategic manufacturing sites and four science and innovation development centers.