“We have obtained guarantees that Opella will remain and develop in France,” Armand said. “Our demands regarding employment, production and investment will be respected.”
The takeover has proven highly controversial in France, with politicians from across the political spectrum warning it could threaten manufacturing jobs and thwart Europe’s push to secure its supply chains for critical medicines.
As previously reported, however, the French government is keen on the deal.
An economy ministry official told reporters Sunday evening that Paris had obtained “the highest possible level of guarantees” from the companies in a trilateral deal including Sanofi, CD&R and the government. The official spoke on condition of anonymity in line with French government communications policy.
“Blocking the transaction would not have provided more guarantees,” the official said, noting that foreign buyers would bring “new investment capital” considered essential to developing France’s medicine manufacturing sector.
The official confirmed that the government will now perform investment screening on the takeover.
Armand and Industry Minister Marc Ferracci will present the details of the agreement reached with Sanofi and the American buyer on Monday.
