PARIS, Oct 21 Reuters Sanofi said on Monday it had entered exclusive talks for the sale of a 50 controlling stake in its consumer health business Opella to U.S. private equity firm Clayton Dubilier Rice CDR.
The French pharmaceutical company said its Opella business has been valued at around 16 billion euros 17.38 billion, or 14 times EBITDA in 2024, and French public investment bank Bpifrance is expected to take a stake of around 2.
French government sources had said late on Sunday that Sanofi had reached an agreement on terms of the deal after providing Paris with guarantees on maintaining jobs and production in France.
News of the sale last week had triggered criticism from government opponents over the potential loss of a strategic asset, prompting rival bidder PAI Partners to make a renewed offer for the business.
Speaking to reporters on Monday about its choice of buyer, chief executive Paul Hudson said We chose the group with the best capabilities and people that would help us enable the long term success of the business.
He added that while there was no timeline for how long Sanofi would be involved in Opella, we expect to be involved and in partnership for a long time.
Opella employs 11,000 people globally and sells the popular French pain medicine Doliprane, as well as brands including Mucosolvan cough syrup, Allegra allergy treatments and Buscopan pain relief.
The proposed transaction, still subject to definitive agreements and customary statutory…