Sanofi is facing an unexpected situation regarding the sale of its Consumer Health division, Opella. The French fund PAI Partners, excluded from negotiations last week, has submitted a new enhanced proposal. Sanofi, insisting on the rigorous conduct of its selection process, has decided not to consider this offer deemed late. Preferring to continue discussions with the American fund CD&R, Sanofi remains true to its initial strategy and emphasizes that all candidates had benefited from the same conditions to submit their offers.
Sanofi, the pharmaceutical giant, shows its reluctance toward the recent counteroffer from the French fund PAI Partners for the acquisition of its Consumer Health division, Opella. Excluded from the initial discussions, PAI Partners presented a revised offer, increasing its bid by 200 million euros and providing assurances on employment and maintaining operations in France. Nevertheless, Sanofi is surprised by this late turnaround, preferring to continue talks with the American fund CD&R, in accordance with a selection process deemed fair for all candidates.
sanofi rejects the new offer from pai partners for opella
Sanofi has expressed its astonishment at the counter-offensive from PAI Partners regarding the acquisition of Opella. One week after the fund was excluded from discussions, PAI Partners submitted a revised and improved offer of 200 million euros. However, this new proposal arrived outside the temporal scope established by the laboratory. Sanofi remains focused on its collaboration with the American fund CD&R, continuing the negotiations already underway. The pharmaceutical giant clarified that the rules of the game had been the same for all candidates from the outset.
sanofi’s selection process and government requirements
In light of a strategic alliance, Sanofi deemed it essential to conduct a rigorous selection process for partnering with a partner for Opella. Each candidate had the opportunity to submit their best proposal, adhering to the established deadlines. The choice of CD&R is explained by the alignment of their strategic aspirations. On the governmental side, guarantees were issued concerning the maintenance of production and jobs in France, particularly at the sites in Lisieux and Compiègne. The fund PAI Partners had committed to these conditions, but its late promise failed to convince Sanofi.
sanofi envisions its future with opella
In considering the future of Opella, Sanofi aims to retain up to 50% of its stake in this division. The focus is on maintaining French operations and accelerating investments in research and development. Despite the counteroffer from PAI Partners, the long-term commitment to CD&R appears to better align with Sanofi’s objectives. The company is seeking partners that combine not only financing but also a genuine shared vision for the future of public health. This strategy aims to ensure that Opella remains a cornerstone in Sanofi’s service portfolio.
