Sanofi Consumer Healthcare: Promoter Hoechst Exits Firm, Sells Stake Worth Rs 6,927 Crore To Opella Healthcare
Hoechst has completely divested its 60.37% stake in Sanofi Consumer Healthcare through a block deal valued at Rs 6,927 crore.
Hoechst GmbH sold stakes of Sanofi Consumer Healtchare India Ltd. in a block deal worth Rs 6,927 crore according to data on the Bombay Stock Exchange.
Hoechst offloaded 1.39 crore shares representing its entire 60.37% stake at Rs 4,982 apiece, aggregating to a total value of Rs 6,927 crore.
Opella Healthcare Participations B V mopped up the same 1.39 crores shares and bought the 60.37% stake at the rate of Rs 4,982 apiece adding up to the value of Rs 6,927 crore.
Hoechst GmbH was a promoter of Sanofi Consumer Healthcare and a 100% subsidiary of Sanofi with ownership of 60.37% stake in the company as of the quarter ending 6 Sept. 2024.
Shares of Sanofi Consumer Healthcare closed 0.46% lower at Rs 4,983.72 apiece on the NSE, compared to a 0.87% decline in the benchmark Nifty 50.
The stock closed 4.42% higher at Rs 5,180 per share. Since listing, it has risen 1.64%.
Out of the analysts tracking the company, none have a 'buy' rating on the stock, none suggest a 'hold' and none recommend a 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price target does not apply to this stock.
In July, Sanofi Healthcare India announced the expansion of its global capacity centre in Hyderabad, and plans to invest 400 million euros over the next six years, out of which 100 million euros will be infused by next year according to PTI.
The capacity is set to be expanded to host up to approximately 2,600 employees, making it the largest of Sanofi’s four global hubs according to a statenment from the company's executive vice president, Madeleine Roach.
The firm said it would make a commitment of 400 million euros until 2030 (about Rs 3,600 crore),according to PTI. The centre reported having 1,000 employees as of July 17.
