Sanofi’s $20 Billion Consumer Health Division Up for Sale

Sanofi, the French pharmaceutical giant, is exploring the sale of its consumer health division, valued at about $20 billion.

The company invited initial bids from interested parties by mid-July, with buyout firms like Advent International and PAI Partners showing significant interest.

PAI Partners, notable for being the only French bidder, hopes this might give it an advantage, especially during heightened scrutiny of foreign takeovers in France. However, due to the size of the transaction, PAI may need to seek partners to fund the deal.

Sanofi expects to keep a significant minority stake in the business. Their shares reacted positively to the news, with a 2% increase in early trading in Paris.

Financial giants like Bank of America, BNP Paribas, Goldman Sachs, and Morgan Stanley are advising Sanofi on this strategic decision. Barclays, Deutsche Bank, and Jefferies have been picked as bookrunners for a potential listing.

For more details, check out the full article on Bloomberg.