09:27 AM EDT, 10/16/2024 (MT Newswires) -- French unions have called a strike at Sanofi ( SNY ) starting Thursday to protest the planned sale of the company's consumer health division Opella to US private equity firm Clayton Dubilier & Rice, Reuters reported Wednesday, citing a union official.

The strike, organized by the CGT and CFDT unions, will begin at 5 a.m. CET and cover all of France, the report said, quoting CGT union representative Fabien Mallet.

The proposed sale of a controlling 50% stake in Opella to Clayton is facing criticism due to concerns about potential job cuts and the loss of strategic production assets, the report said.

"Opella's teams in France and its industrial facilities will play a central role, and none of the options under consideration involve reducing Opella's industrial footprint in France," a Sanofi ( SNY ) spokesperson told MT Newswires.

"Both sites and their employees are so strategic for Opella's growth plans that it is absurd to imagine for a second that their future would not be guaranteed. Sanofi's ( SNY ) decision to retain 50% of the capital is a guarantee that these activities will be anchored in France in the long term."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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