Sanofi Enters Exclusive Negotiations To Sell 50% Stake In Opella To CD&R

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(RTTNews) - Sanofi (SNYNF) announced it has entered into exclusive negotiations to sell a 50 percent controlling stake in its consumer healthcare business, Opella, to private equity firm CD&R. The valuation of Opella is based on an enterprise value of 16 billion euros.

Sanofi will remain a significant shareholder, supporting Opella in its future growth and path to independence. Bpifrance is expected to participate as a minority shareholder with an approximate 2% stake.

Sanofi stated it will use the proceeds from the transaction in accordance with its existing capital allocation priorities, including shareholder returns.

The proposed transaction is subject to finalization of definitive agreements, completion of the appropriate social processes, and subject to customary statutory approvals. The anticipated closing of the transaction would be in the second-quarter 2025 at the earliest.

Headquartered in France, Opella employs over 11,000 people and operates in 100 countries, supported by 13 strategic manufacturing sites and four science and innovation development centers. With a portfolio of iconic brands, including Allegra, Doliprane, and Dulcolax, Opella is the third-largest company globally in the over-the-counter and vitamins, minerals, and supplements market (OTC & VMS), serving more than half a billion consumers worldwide.

Under the new scope excluding Opella, Sanofi expects its 2024 business earnings per share to grow by at least a low-single digit percentage at constant exchange rates or CER.

Under the previous scope of guidance including Opella, Sanofi would have upgraded its 2024 business earnings per share guidance to between stable to a low single-digit percentage growth at CER3, from previously stable at CER. This upgrade is substantiated by an expected strong business performance in the third quarter.

For 2025, Sanofi continues to anticipate a strong rebound in business earnings per share at CER under both the previous and the new scope.