Sanofi (Euronext: SAN) has entered into exclusive negotiations to sell Zentiva, its European generics business, to global private equity firm Advent International for 1.9 billion euros ($2.35 billion), the French pharma major announced today.
Advent offer is firm, binding and fully financed. The 1.9 billion euros price is an enterprise value, including equity and debt. The transaction is expected to close by the end of 2018, subject to finalization of definitive agreements, completion of the appropriate social processes and approval of relevant regulatory authorities
Advent is a global investor, with over 25 years’ experience of investing in the healthcare sector. It has extensive experience of executing corporate carve-outs and will work collaboratively with Sanofi to form a new independent operation. Last year, Advent failed in a bid to acquire German generics firm Stada Arzneimittel, losing out to private equity firms Bain Capital and Cinven.
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Chairman, Sanofi Aventis UK
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