Bpifrance eyes investment in Sanofi’s consumer health business

(Reuters) – Bpifrance Executive Director Jose Gonzalo said that the public investment bank is considering a potential investment in Sanofi’s consumer health unit, Bloomberg News reported on Thursday.

The French public investment bank is in talks with “many funds” and may team up with the winning bidder for Sanofi’s consumer health unit, Gonzalo was quoted as saying.

Bpifrance confirmed Gonzalo had made the comments on Sanofi’s consumer health unit and other potential investments during a briefing on Thursday.

Sanofi said in an emailed statement that it does not comment on market rumours, adding that the French drugmaker was progressing with its preparations for a potential separation of the consumer health business, while keeping all options open.

Gonzalo said Bpifrance is also studying an investment in tourism and travel company Club Med, the report said, in comments that were also confirmed to Reuters by BpiFrance.

Club Med did not immediately respond to requests for comment.

Private equity firm CVC Capital Partners had been in talks with Bpifrance to jointly buy a minority stake in Club Med from China’s Fosun, French newspaper La Lettre reported in June.

The Bloomberg report also said that the sale of Les Laboratoires Servier’s generic drugmaker Biogaran is on hold due to France’s parliamentary elections, even though Bpifrance had put in a non-binding bid with BC Partners.

Biogaran did not immediately respond to a request for comment.

French Prime Minister Gabriel Attal said in May that the French government told drugmaker Servier it opposes a sale of Biogaran, which has a French market share of almost a third.

(Reporting by Chandni Shah in Bengaluru; Editing by Alexander Smith)

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