Sanofi consumer healthcare spin-off attracts private equity interest: Sources
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London: Drugmaker Sanofi's consumer healthcare division has attracted interest from private equity funds as the French group prepares to spin out the business, two sources close to the matter told Reuters.
Buyout groups including Blackstone and CVC are considering making offers for the division, the sources said, speaking on condition of anonymity.
JPMorgan analysts valued the unit at around $20 billion in a recent report, including debt.
The news comes months after Sanofi announced it was reviewing "separation scenarios" for the unit in a bid to focus on its core innovative drugs business.
The French group said at the time that a separate stock market listing was the likeliest option, which could take place as soon as the fourth quarter of 2024.
A Sanofi spokesperson on Tuesday declined to comment on the story and pointed to the company's earlier guidance.
The news was first reported by Bloomberg earlier on Tuesday. Other funds including Advent International, Bain Capital, EQT and KKR are also interested in the unit, Bloomberg reported.
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