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Sanofi Looks To Sell $20B Icy Hot Division: Likely Bidders Include Advent, PAI Partners, Blackstone, CVC

Sanofi SA (NASDAQ:SNY) is calling for initial bids for its $20 billion consumer health division. The French pharmaceutical giant is also considering a potential public listing. Potential suitors must submit first-round bids by mid-July, Bloomberg reports. Advent International and France’s PAI Partners both expressed interest in acquiring the division, which includes over-the-counter products such as Phytoxil cough syrups and Icy Hot pain relief gels. PAI is the sole French bidder and might need to find partners to manage the transaction’s scale. Other major firms considering bids include ...