PARIS (Agefi-Dow Jones)–The pharmaceutical group Sanofi announced Friday the launch of the listing project on Euronext Paris of Euroapi, its entity dedicated to the production and marketing to third parties of active pharmaceutical ingredients (API).
“Today marks an important milestone for Euroapi, a European leader in the development, manufacture and marketing of active pharmaceutical ingredients, with the unanimous decision taken on March 17 by Sanofi’s Board of Directors to submit to its shareholders the decision to distribute approximately 58% of Euroapi’s share capital,” Sanofi said in a statement.
“In addition to the already announced payment of a cash dividend of 3.33 euros per Sanofi share, this exceptional additional dividend, exclusively in kind, will be subject to the approval of Sanofi shareholders at the ordinary and extraordinary general meeting. of the shareholders of May 3, 2022”, added the group.
In the event of a favorable vote by the shareholders, the distribution will take place in the days following the admission of the Euroapi shares to the regulated market of Euronext Paris, subject to the approval by the Autorité des Marchés Financiers (AMF) of the prospectus. of the company which will be made public prior to Sanofi’s general meeting.
Euroapi should thus join the Paris Stock Exchange in the first half of this year.
The French State, through the French Tech Souveraineté fund, plans to acquire 12% of the capital of Euroapi for a maximum amount of 150 million euros from Sanofi to become a long-term reference shareholder. The pharmaceutical group intends to keep around 30% of the capital of Euroapi after its listing on the stock market.
On the Paris Stock Exchange, Sanofi shares fell 1.3% to 93.79 euros.
Sanofi announced in February 2020 its ambition to create a world leader in the API sector, before giving birth to Euroapi a year later. In early 2021, Sanofi appointed Karl Rotthier, the former CEO of Dutch pharmaceutical group Centrient Pharmaceuticals, as CEO of Euroapi. Viviane Monges was appointed chair of its supervisory board last summer.
Euroapi should achieve a turnover of around 1 billion euros this year.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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March 18, 2022 08:29 ET (12:29 GMT)