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Sanofi seals Zentiva deal

This article was originally published in The Tan Sheet

Executive Summary

The Paris-based firm acquires Zentiva, allowing Sanofi-Aventis to enter Turkey, Russia and Central and Eastern European markets. The deal gives Sanofi-Aventis 27.4 million shares of Zentiva, or 70 percent of the company's outstanding share capital and voting rights, according to a Feb. 25 statement. Including shares held prior to the offer, Sanofi expects to hold about 94 percent of Zentiva's share capital and voting rights. The Czech pharmaceutical firm sells the OTC ibuprofen product Ibalgin (1"The Tan Sheet" Feb. 9, 2009, In Brief)

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