Banks are preparing debt packages of up to €500m to back a potential sale of French drug maker Sanofi’s European contract manufacturer business Cepia, banking sources said on Thursday.
Cepia is a division of Sanofi, dealing with what Sanofi calls “third party activities” such as supply and production and is hoped to fetch up to €1bn, banking sources said.
Information packages have gone out to potential bidders as the sale process kicks off and the business is expected to generate interest from a number of private equity and strategic bidders.
