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PAI Partners makes higher offer for Sanofi's Opella, source says
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PAI Partners makes higher offer for Sanofi's Opella, source says
Oct 17, 2024 2:30 PM

PARIS, Oct 17 (Reuters) - A consortium led by French

private equity firm PAI Partners has submitted a new, higher

offer for Sanofi's consumer health business Opella, a

source close to the matter said on Thursday, confirming reports

in French media.

PAI is seeking to outbid U.S. rival Clayton Dubilier & Rice

for a controlling 50% stake in Opella, the maker of one of

France's most-sold painkillers, Doliprane.

The source said the PAI-led consortium had hiked its bid by

200 million euros ($217.2 million) in a revised offer sent

earlier on Thursday to Sanofi's Chairman Frederic Oudea.

They declined to elaborate on the exact price offered for

the stake in Opella, which is valued at more than 15 billion

euros.

Sanofi could not immediately be reached for comment by

telephone or email.

The company said last week it was in talks with CD&R for the

sale of 50% of Opella, triggering criticism from both the right

and left of France's political spectrum.

($1 = 0.9204 euros)

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