Sanofi in Talks With Advent International to Sell Zentiva for EUR1.92 Billion
April 17 2018 - 2:16AM
Dow Jones News
By Alberto Delclaux
Sanofi SA (SAN.FR) said Tuesday that it had entered exclusive
negotiations with Advent International Corp. to sell its European
generic business Zentiva for an enterprise value of 1.92 billion
euros ($2.37 billion).
The pharmaceutical company said Advent had made a firm, binding
and fully financed offer.
The transaction is expected to close by the end of 2018,
following consultation with Sanofi employees' representatives, the
company said. It is subject to definitive agreements and regulatory
approval, it added.
The divestment from Zentiva, a non-core business, forms part of
Sanofi's strategy to simplify the company.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
April 17, 2018 03:01 ET (07:01 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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