France to take stake in Sanofi unit to quell backlash over sale to US firm
by Jasper Jolly from on (#6RM7W)
Move follows fears over jobs and control when private equity firm CD&R entered talks to buy Opella for 16bn
The French government is to take a stake in the pharmaceutical company Sanofi's consumer healthcare division to try to quell a backlash as the US private equity firm Clayton, Dubilier & Rice enters talks to buy the unit for 16bn (13.3bn).
Sanofi is spinning off Opella, which makes the paracetamol brand Doliprane, the laxative Dulcolax and other over-the-counter medicines. However, the revelation of talks with CD&R earlier this month prompted concerns over French jobs and the loss of control to a foreign company.
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