October 26, 2006
Sanofi-Aventis, the world’s largest pharmaceutical company, announces sale of its entire stake in chemicals company Rhodia to French bank BNP Paribas.
On October 17, Willkie client Sanofi-Aventis, the world’s largest pharmaceutical company, announced the sale of its entire stake in chemicals company Rhodia to French bank BNP Paribas. The €183 million transaction was structured as a firm purchase by BNP Paribas with a resale to institutional investors in a private placement. Rhodia was a legacy from the 1999 merger between Hoechst and Rhône-Poulenc that created Aventis. In 2004, Willkie advised Total as main shareholder of Sanofi-Synthélabo in connection with its €57.7 billion merger with Aventis. The current deal was handled by partner Laurent Faugérolas; special European counsel Etienne Boursican and Jon Lyman; and associates Karine Lenczner and Oliver Lopez.