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Sanofi's Generics Business To Be Sold To Private Equity Firm, Advent

 
• By John Davis

Sanofi will have €1.9bn to add to its war-chest when it concludes the sale of its European generics business.

Cash
Sanofi has also been active in buying companies. • Source: Shutterstock

Advent International aims to invest in Zentiva BV and build a new independent European generics leader, as the private equity firm and Zentiva's parent, Sanofi, announced they had entered exclusive negotiations for Advent to acquire Zentiva for €1.9bn ($2.3bn). The offer is "firm, binding and fully financed," the companies said on Apr. 17, and the acquisition is expected to close by the end of 2018.

For Sanofi, the divestment will reduce the number of business sectors in which it operates, allowing it to concentrate on making new acquisitions in pharma and consumer health, and giving it extra funds with which to do so

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