Sanofi to sell 51% stake in Opella to CD&R, 1% to BPI

PARIS (Reuters) – France will take a stake in Sanofi (NASDAQ:SNY)’s Opella through the Public Investment Bank (BPI), finance minister Antoine Armand said on Sunday, confirming an information from Le Figaro newspaper that U.S. private equity firm Clayton Dubilier & Rice (CD&R) is to take a 51% stake in the company that makes of one of France’s most-sold painkillers, Doliprane.

The plan for Public Investment Bank (BPI) to take a 1% stake in Opella, for about 150 million euros ($162.98 million), came through a tri-party agreement between Sanofi, the French state and CD&R and was approved by Sanofi’s board on Sunday, the newspaper said.

Finance minister Antoine Armand had said earlier this week that the government was looking at all options regarding Opella, including the state being on Opella’s board of directors.

($1 = 0.9204 euros)