Sanofi will not sell all of Opela and Doliprane

Sanofi does not intend to completely abandon the Doliprane ship and the 116 other brands of Opella, its consumer healthcare division. At least not immediately. In reality, there was never even any question of the French laboratory selling this entire activity.

As part of the IPO option, which was initially considered when the announcement was made a year ago, Sanofi had always indicated that it would retain a stake, as it did in 2022 with EuroAPI, before a potential exit within a few years. It is the same pattern in the context of a potential sale. In the two acquisition offers submitted on September 23 by PAI Partners and CD&R, Sanofi does indeed have a stake.

Sanofi would retain up to 50% of Opella’s capital

In the PAI Partners offer, Sanofi would even retain 50% of Opella’s capital, and would have “of a right of veto“, according to one of the various sources close to the case. The remaining 50% would be held by a holding company led by PAI Partners. This would be composed of 52% by PAI Partners and its funds under management, mainly European but including one Singaporean, 31% by Adia, the sovereign fund of Abu Dhabi, and 17% by the Canadian fund BCI. What had revealed The Echoes September 25thand which has been confirmed to L’New FactoryIn the second offer, supported by CD&R, Sanofi will also retain part of the capital, the American investment fund assures, without giving further details on the proportion envisaged.

Paul Hudson favorable to Sanofi remaining in the capital of Opela

Sanofi does not directly confirm this intention to remain in the capital of Opella. However, on September 23, on the sidelines of a trip to New York (United States), Paul Hudson, the CEO of Sanofi, clearly indicated that he is in favor of it. In a meeting with journalists relayed by ReutersPaul Hudson is quoted explaining that Opella “is a great business with a lot of potential. I want us to participate in this potential. With the right environment, this business can be a thriving business. Why don’t we stay involved and share in the profits?».

A possible participation of Bpifrance was also mentioned, in association with the leader of the offer that would win the bid, whether it is PAI Partners or CD&R. For its part, Sanofi has always said that it would make a decision in the fourth quarter of 2024. In any case, the file seems far from being set in stone yet.