If you can see this message, your browser does not support canvas and needs an update. Sorry. :(
Monday, April 23, 2018 
Market Status: CLOSE
About us and Governance Investor Relations Contact
Advanced search

Market News


ZENTIVA S.A. - SCD

Announcement negotiations acquisition of the EU Sanofi Gx business

Release Date: 4/17/2018 2:36:21 PM

IRIS Code: F54BB

Current Report

 

Current Report as per      - Law no. 24/2017 and Regulation no. 1/2006

Report date:                                   - 17.04.2018

Name of issuing entity       - ZENTIVA S.A.

Registered headquarters: - 50 Theodor Pallady Blvd., Bucharest

Tel/fax number:                 -  021-3047200 /021-345.40.04

Sole registration code:    - 336206                                 

No. of registration with the Trade Registry: J/40/363/1991

Subscribed paid-in share capital                   - 41,696,115 RON           

Regulated market on which the issued securities are traded:    - Bucharest Stock Exchange

 

Important event to report:

S.C. Zentiva SA informs that on April 17, 2018 Sanofi made public, a press release related to the negotiations related to acquisition of its Generics business in Europe, as follows:

 

Advent International enters into exclusive negotiations to acquire Zentiva, Sanofi’s European generics business                          

*         Advent to invest in Zentiva to create a new, independent
European generics leader.

*         Divestiture of European generics, a non-core business, is part of Sanofi’s strategy to simplify and reshape the Company.

*         Transaction anticipated before end of the year, following consultation with Sanofi employees’ representatives and subject to customary closing conditions.

 

PARIS – 17 April 2018 - Advent International (“Advent”) and Sanofi have entered into exclusive negotiations under which Advent would acquire Zentiva, Sanofi’s European generics business for €1,9 billion[1].  Advent’s offer is firm, binding and fully financed.

 

Advent is a global investor, with over 25 years’ experience of investing in the healthcare sector. It has extensive experience of executing corporate carve-outs and will work collaboratively with Sanofi to form a new independent operation. Advent will support the Zentiva management team to invest in the company’s operations, production facilities and R&D pipeline. 

 

“Zentiva is a robust business with a highly talented workforce and we believe it has demonstrated its potential for growth. Following a comprehensive review of strategic options for our generics unit in Europe, we have determined that transferring this business to Advent is the best option to ensure its long-term success,” said Olivier Brandicourt, Chief Executive Officer, Sanofi.

                                                  

We have long been attracted to the generic pharmaceutical sector as it enables more people to access high quality treatments by lowering their cost.  We believe that Zentiva is a great platform, full of talented people, who we can invest behind to build a new, independent, European generics leader” jointly commented Tom Allen, Managing Director and co-head of Advent International’s European Healthcare team and Cedric Chateau, Managing Director and head of Advent International in France.

 

The transaction is expected to close by the end of 2018, subject to finalization of definitive agreements, completion of the appropriate social processes and approval of relevant regulatory authorities. This process will be conducted in full respect of social dialogue with Sanofi employee representatives.

 

About Zentiva

Zentiva is an agile healthcare player providing reliable access across Europe to a broad generics portfolio covering a multitude of therapeutic areas. Headquartered in Prague, Zentiva reaches over 40 million patients in 25 European countries, operating throughout a large marketplace with attractive levels of both short- and midterm growth outlook. Zentiva stands apart with the expertise and agility to tailor customer-centric solutions in the three European generics market archetypes (pharmacy, physician and tender/wholesaler). Zentiva’s integrated value chain and pan-European commercial footprint makes it one of the largest generics players in Europe. Operating to the highest quality and safety standards, Zentiva’s flexible manufacturing facilities in Prague and Bucharest work with partners to produce and distribute more than 350 million packs each year.

 

 

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 330 private equity transactions in 40 countries and as of December 31, 2017, it had €35 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 190 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit www.adventinternational.com.

 

 

About Sanofi

Sanofi is dedicated to supporting people through their health challenges. We are a global biopharmaceutical company focused on human health. We prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. We stand by the few who suffer from rare diseases and the millions with long-term chronic conditions.

 

With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe.

 

Sanofi, Empowering Life

 

 

 

Please note that  the official text of the communication can be found on Sanofi’s site, Investors Section, at the link: http://mediaroom.sanofi.com/advent-international-enters-into-exclusive-negotiations-to-acquire-zentiva-sanofis-european-generics-business-n/.

 

 

 

ZENTIVA SA

Simona Cocos



[1] 1,919 million euros Entreprise Value.

 



 Print

Information provided by IRIS, the news platform of the Bucharest Stock Exchange.

______________________

Bucharest Stock Exchange ("BVB") is not responsible for the content of this News item. Issuers whose financial instruments are traded on markets operated by BVB are required to report in accordance with current legal and regulatory provisions. BVB publishes these Reports as market administrator, appointed by ASF. When, for investors’ information, Reports are published, either signed by different persons, or with conflicting information, legal liability lies fully with the signatories. BVB disclaims any obligation or responsibility towards issuers or third parties, regarding the reality, completeness and accuracy of information provided by them and distributed by BVB. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


©2016 Bucharest Stock Exchange. All rights reserved