The Advent offer is firm, binding and fully funded. The deal is expected to be completed by the end of the year, after consultations with Sanofi employees' representatives and subject to specific completion conditions.
The transaction would mark the return of the Advent investment fund to the Romanian healthcare market, after the drug producer Terapia was held between 2003 and 2006, and between 2008 and 2013 he held the Alvogen drug manufacturer.
"Following a comprehensive review of strategic options for our European generics division, we have decided that the transfer of operations to Advent is the best option to ensure long-term success," said Olivier Brandicourt, Sanofi CEO.
"For us, the generic medicine sector is the attractive one, as it allows more people to access quality treatments at low costs. We believe that Zentiva is a very good platform with talented people in which we can invest to build a new independent leader in the European generic market, "said Tom Allen, Managing Director and Co-Director of the European Advent International Health Team , and Cédric Chateau, Managing Director and Director of Advent International in France. (source: zf.ro)
