Exhibition Stands News
Sanofi-aventis ''owns majority of Zentiva stock''
12 Mar 2009
Sanofi-aventis Europe now owns around 96.8 per cent of share capital in Zentiva after settlement of its voluntary public offer for the firm.
More than 27.7 million shares were purchased under the terms of the deal, with additional ones being accrued after the end of the offer validity period.
Chris Viehbacher, chief executive officer of the firm, said he is "very pleased" to announce the success of the offer and looks forward to welcoming the Zentiva''s employees to the Sanofi-aventis group.
He added: "Zentiva brings a large portfolio of branded generic drugs and affordable medicines, which is well adapted to market dynamics and patients needs in this region."
Sanofi-aventis plans to initiate a minority buyout for the rest of the company shares in the near future.
In recent days, the firm announced a €100 million (£72.5 million) investment in a new facility in Mexico to produce both pandemic and seasonal influenza vaccine.
