Reuters reported that Sanofi has reached an agreement on terms to sell a controlling stake in its consumer health unit Opella to U.S. private equity firm Clayton Dubilier & Rice (CD&R), French government sources said on Sunday. The breakthrough came after the investment group provided France with guarantees on maintaining jobs and production in the country following the talks between Sanofi, CD&R and the government, the sources said.
The sale is estimated at around 15 billion euros ($16.29 billion), Opella generates annual revenues of 5.2 billion euros and employs 11,000 people globally, French newspaper Le Figaro said.
Sanofi, France's biggest pharmaceutical group, said last week that it was in talks with CD&R for the sale of a 50% controlling stake in Opella, triggering criticism from government opponents over the potential loss of a strategic asset.
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