Sanofi Moves Forward With EUROAPI Listing On Euronext Paris In H1

French drugmaker Sanofi (SNYNF,SNY) said Friday that it moves forward with a listing of its pharmaceutical ingredients business EUROAPI on Euronext Paris in the first half of 2022.

Sanofi noted that it will distribute 58% of the share capital of EUROAPI to shareholders. Sanofi will continue to hold about 30% of EUROAPI, post transaction.

The French State, through the fund French Tech Souveraineté, intends to acquire 12% of EUROAPI's capital for up to 150 million euros from Sanofi.

French Tech Souveraineté will become a long-term reference shareholder of EUROAPI and will be represented by two non-executive members on EUROAPI's Board of Directors, including Benjamin Paternot and another member to be determined.

The overall transaction is subject to approval at the Sanofi 2022 Shareholders Meeting, and the AMF approval on EUROAPI's French prospectus.

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