Investment bank Lazard is working with Sanofi’s management to prepare a sale or listing of its Merial animal health unit, aiming to land the leading advisory job for the deal, which could value the business at up 12 billion euros ($12.7 billion), sources familiar with the matter said.
Lazard is expected to win the role for the so-called dual-track process having helped Sanofi’s management in the ongoing review, the sources said, speaking on condition of anonymity.
If successful, the deal will play a pivotal role in getting France’s most valuable company back on track and delivering on its five-year strategic plan, after the business was hit by lagging diabetes sales and boardroom rows.
