Surprise in Doliprane sales. While negotiations that began between Sanofi and the American investment fund CD&R with a view to selling Opella, the pharmaceutical group’s over-the-counter drug subsidiary, continue, a previous competitor, PAI Partners, is trying to get back into the equation. This Thursday, October 17, a consortium led by a French investment fund submitted a new offer to the board of directors of the French laboratory, increasing the amount proposed in the previous attempt by 200 million euros.
With this new offer, which is valid until Sunday evening, and which would value the pharmaceutical group’s subsidiary at just under 16 billion euros, PAI Partners hopes to turn the situation in its favor, at a time when the possible legalization of Doliprane under the control of the American flag triggers backlash among elected politicians of all stripes.
The French investment fund dropped out of the race last week after a bidding war with its rivals. Friday October 11, Sanofi announced that it had chosen to continue exclusive negotiations with CD&R to sell 50% of the capital of its consumer health division, Opella, which houses around one hundred brands, including the Doliprane symbol. This left the consortium led by PAI Partners, which is backed by Abu Dhabi state fund ADIA, Canadian pension fund BCI and Singapore state fund GIC, very disappointed.
“Ambitious social commitment”
Disappointed, PAI Partners tried their luck again by making an offer “improved” at a financial level, according to sources close to the fund, and “accompanied by a number of ambitious social commitments”. Among them is, among other things, a guarantee of maintaining employment at a constant level at two French industrial sites, Opella, in Compiègne (Oise) and in Lisieux (Calvados), accompanied by a promise of investment of 60 million euros over five years. many years.
By repatriating production of certain products, PAI is also confident that it can guarantee double-digit volume growth at the French factory. The fund also plans to strengthen the capacity of the Compiègne site, one of Opella’s four research and development sites in the world, to make it the group’s main research and development center. With the key, “increased staff and allocated resources”continued the same source.
Therefore, the French fund wants to display its tricolor tropics loud and clear to stand out from its foreign competitors, believing that it has something to offer. “best bidder”. Because the details of the commitment proposed by CD&R are unknown, it is difficult to predict the merits of the offer submitted by the investment fund.
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