PARIS (dpa-AFX) - Advent International entered into exclusive negotiations to acquire Zentiva, Sanofi's (SNYNF, SNY) European generics business, for 1.9 billion euros. Advent's offer is firm, binding and fully financed.
Sanofi said that divestiture of European generics, a non-core business, is part of its strategy to simplify and reshape the Company.
The transaction is expected to close by the end of 2018, subject to finalization of definitive agreements, completion of the appropriate social processes and approval of relevant regulatory authorities. This process will be conducted in full respect of social dialogue with Sanofi employee representatives.
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