Advent close to sealing Sanofi generics deal

Apr 16, 2018

Advent International, a private equity firm based in Boston, is close to acquiring Sanofi’s European generics division, according to sources.

While no final decision has been made, Sanofi’s board is scheduled to meet as early as today to sign off on the deal.

A price has not been mentioned. A few weeks ago, private equity group Nordic Capital dropped out of the race because the price expectation was too high.

Advent and BC Partners were going head to head in the competition to buy the generics business (known as Zentiva), and sources say BC Partners could still improve its bid for the unit.