CD&R nears deal to buy Sanofi’s consumer unit for $16 billion, source says
5:51 pm Thursday, October 10th, 2024
By Dominique Patton
(Reuters) -Sanofi is closing in on a deal to sell its consumer health unit for about 15 billion euros ($16.4 billion) to U.S. private equity firm Clayton Dubilier & Rice (CD&R), a person familiar with the matter told Reuters.
The French pharmaceutical company has been planning to spin off or sell its consumer unit to shore up new drug development spending at its core business.
The development was first reported by Bloomberg News earlier in the day.
In September, Bloomberg reported that Sanofi had received two separate bids from CD&R and rival PAI Partners for the Opella unit.
CD&R has kept away interest from rival PAI Partners for the unit, Thursday’s report said, citing people familiar with the matter.
The deal could be announced in the coming days, the report said.
Sanofi and CD&R did not immediately respond to Reuters requests for comment.
Sanofi announced in October 2023 that it was reviewing potential separation scenarios for its consumer healthcare business, with a transaction in the fourth quarter at the earliest.
($1 = 0.9145 euros)
(Reporting by Jaiveer Singh Shekhawat and Dominique Patton; Editing by Devika Syamnath)
