CD&R's Strategic Move: A Major Stake in Sanofi India

Global investment firm CD&R announced an open offer to buy a 26% stake in Sanofi Consumer Healthcare India for Rs 2,983 crore. This move aligns with CD&R's agreement to acquire a controlling stake in Opella. The offer is priced at Rs 4,982.05 per share, valuing Opella at 16 billion euros.

Global investment firm CD&R has announced an open offer to purchase a significant 26 per cent stake in Sanofi Consumer Healthcare India Ltd for a staggering Rs 2,983 crore. The announcement comes in the wake of exclusive negotiations between Sanofi and Clayton, Dubilier & Rice (CD&R), wherein CD&R has agreed to gain a controlling interest in Opella, the entity owning a 60.4 per cent stake in Sanofi Consumer Healthcare India.

The open offer, made at a price of Rs 4,982.05 per share, adds up to a potential aggregate consideration of Rs 2,983.23 crore. Citigroup Global Markets India, serving as the transaction manager, disclosed these details in an offer letter shared with BSE by Sanofi Consumer Healthcare India.

This significant offer follows the exclusive negotiations between Sanofi and CD&R, eyeing the potential sale and purchase of a 50 per cent controlling stake in Opella, Sanofi's consumer healthcare segment. The enterprise valuation of Opella stands at a hefty 16 billion euros. Upon the deal's completion, CD&R is set to indirectly control 60.40 per cent of the voting rights in Sanofi Consumer Healthcare India, ensuring solid influence over its operations. Opella, headquartered in France, boasts a workforce of over 11,000, operating across 100 countries with 13 manufacturing sites and four science and innovation centres.