French state investment bank Bpifrance plans to take a 2% stake in the business to address concerns raised by the French government. Sanofi said Monday that it entered into exclusive talks with CD&R, choosing an offer from the New York-based private-equity firm to make Opella a standalone business. Sanofi plans to retain the remaining 48% stake in the business. Sanofi's previous guidance including Opella estimated stable business earnings at constant currency, but would have been lifted even including Opella due to an expected strong performance in the third quarter, it said. Write to Adria Calatayud at adria.calatayud@wsj.com and to Helena Smolak at Helena Smolak at helena.smolak@wsj.com(END) Dow Jones Newswires10-21-24 0429ET

Source: Wall Street Journal October 21, 2024 08:33 UTC