In Paris, Reuters reports that the French government, through the Public Investment Bank (BPI), will acquire a stake in Sanofi’s subsidiary Opella. This move was confirmed by Finance Minister Antoine Armand. According to Le Figaro newspaper, the U.S. private equity firm Clayton Dubilier & Rice (CD&R) is set to secure a 51% stake in the company, which produces Doliprane, a leading painkiller in France.
The arrangement involves BPI obtaining a 1% share in Opella for approximately 150 million euros ($162.98 million). This acquisition was made possible through a tripartite agreement between Sanofi, the French government, and CD&R, and received approval from Sanofi’s board on Sunday.
Earlier this week, Finance Minister Armand indicated that the government was considering various strategies concerning Opella, including the possibility of obtaining a seat on its board of directors. The current exchange rate is $1 to 0.9204 euros.
