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Sanofi will sell Zentiva, its European generics business, to private equity investor Advent International.
Sanofi and Advent International, a private equity investor, announced on June 28, 2018 that they finished negotiations for Advent to acquire Sanofi’s European generics business, Zentiva, in a share purchase agreement worth EUR 1.9 billion (US$2.2 billion).
The transaction remains subject to approval by regulatory authorities. The companies announced that they had entered into exclusive talks in April 2018. According to Sanofi, the signing of this agreement marks a critical step for the deal, which is expected to close during the fourth quarter of 2018.
Zentiva, headquartered in Prague, Czech Republic, provides generic drugs covering a range of therapeutic areas and reaches over 40 million patients in 25 European countries. The business has manufacturing facilities in Prague and Bucharest, Romania, that produce and distribute more than 350 million packs each year.