Sanofi Starts Bidding Process to Sell Consumer Health Division, Bloomberg Reports

-- Sanofi is seeking buyers for its consumer health arm as it simultaneously plans to potentially list the unit, Bloomberg reported, citing unnamed sources.

-- The French pharmaceutical giant set a mid-July deadline for first-round bids, Bloomberg reported. Private equity firms Advent and France's PAI Partners are seen as frontrunners, while Blackstone, Clayton Dubilier & Rice, CVC Capital Partners and TPG are considering bids for the company, according to Bloomberg.

-- Sanofi said it is reviewing potential separation scenarios, with a transaction at the earliest in the last quarter of 2024. "We are keeping all options open to maximize value creation for all our stakeholders," the company said after a request for comment from Dow Jones. The company first set out plans to separate the division in October.

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Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

June 26, 2024 03:15 ET (07:15 GMT)

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