Investors’ consortium moves to acquire stakes in Sanofi

KARACHI: Sanofi-aventis Pakistan has received a public announcement of intention by an investors’ consortium to acquire stakes in the company, a bourse filing said on Thursday.

The consortium led by Packages Limited, and comprising IGI Investments (Private Limited), and affiliates of Arshad Ali Gohar Group, through its manager of the offer, Arif Habib Limited intends to acquire all of 52.87 per cent shares held by Sanofi Foreign Participants B.V. in Sanofi-aventis Pakistan Limited, it added.

“We do not expect any disruption to manufacturing, marketing, distribution, or availability of Sanofi products in Pakistan. Healthcare providers, patients and caregivers are assured of the continuity of supply of Sanofi Pakistan products in the immediate future as well as in the long term,” Sanofi Pakistan managing director Dr Asim Jamal said.

Sanofi will be giving the consortium an opportunity to conduct due diligence and commence negotiations on the terms and conditions of the potential transaction.

There is no assurance that the negotiation between the company and the consortium will result in any agreement or the transaction will occur at all, the filing stated.

Packages Limited is an investment holding company having investments in the companies engaged in various business including, packaging materials, tissues and consumer products, industrial inks, paper and paperboard products, bi-axially-oriented polypropylene (BOPP) films and cast polypropylene(CPP) films, calcium carbonate products, insurance, power generation and real estate.

IGI investments (Private) Limited is an investment holding company having investments in companies engaged in various businesses including food and personal care, pharmaceutical, real estate, technology and bi-axially-oriented polypropylene (BOPP) films and cast polypropylene(CPP) films.

Arshad Ali Gohar is a non-executive director on the board of Sanofi-aventis Pakistan Limited since February, 2011. He has over 25 years of experience in the distribution of pharmaceutical and allied products.

Gohar is the managing director of Ali Gohar and Company (Private) Limited, AGT Holding (Private) Limited, AGC (Private) Limited, and he is also a certified director from Pakistan institute of corporate governance.

AGT Holding is an investment holding company having investments in real estate, capital and money markets.

Nera Pharma (SMC-Private) Limited is in the process of incorporation as an investment holding company, being 100 per cent subsidiary of Ali Gohar and Company (Private) Limited.

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