Employees urge Sanofi to pay benefits before handing stake Star Business Report Star Business Report
The workers and employees of Sanofi Bangladesh Ltd have demanded the French multinational company provide all benefits to the staff before handing the entire stake of its local unit to Beximco Pharmaceuticals.
The Sanofi Bangladesh Limited Workers-Employees Association (SBLWEA) alleged SBL was exiting the country without giving any compensation to its employees.
In a statement, Sanofi Bangladesh, however, Since the beginning of this process, Sanofi has consistently reaffirmed that our employees interests will be integral in the final selection of the buyer of the stake in the company.
Chief Economics Correspondent,
bdnews24.com
Published: 21 Jan 2021 08:47 PM BdST
Updated: 21 Jan 2021 08:56 PM BdST
Beximco Pharmaceuticals has struck an agreement to acquire a 54.6 percent majority stake in French pharmaceutical giant Sanofi’s Bangladesh unit at a base price of £35.5 million. );
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The country’s leading manufacturer and exporter of medicines announced the development in a media statement on Thursday evening.
Sanofi Group currently holds 54.6 percent shares in the paid-up capital of Sanofi Bangladesh.
Of the remaining shares, around 25.36 percent are held by the Ministry of Industries while Bangladesh Chemical Industries Corporations owns nearly 19.96 percent, it read.
The proposed acquisition is subject to the government’s clearance and completion of a definitive Sale and Purchase Agreement. It is anticipated that the acquisition would be completed within the next three to nine months, the statement added.
Beximco Pharma to acquire a majority stake in Sanofi Bangladesh Limited
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DHAKA, Jan 21, 2021 (BSS) – Beximco Pharmaceuticals Limited today announces that it has signed agreement (binding commitment) to acquire a majority shareholding (54.6 percent) in Sanofi Bangladesh Limited (Sanofi Bangladesh), a concern of French pharmaceutical giant Sanofi with global sales in excess of Euro 36 billion in 2019.
Sanofi Group currently holds 54.6 percent shares in the paid-up capital of Sanofi Bangladesh, said a press release.
The remaining shares are held by the government of Bangladesh represented by the Ministry of Industries (approx. 25.36 percent) and Bangladesh Chemical Industries Corporations (approx.19.96 percent).
The Proposed Acquisition is subject to Bangladesh government clearance (including necessary approval of the Transaction by the Foreign Exchange Investment Department and Bangladesh Bank) and completion of a definitive Sale and Purchase Agreement. It is anticipated that
Beximco Pharma to acquire majority stake in Sanofi Bangladesh Star Business Report Star Business Report
Beximco Pharmaceuticals Ltd, one of the leading drug makers, today said it is going to acquire 54.6 percent stake of Sanofi Bangladesh in its bid to further strengthen its position in the drug market.
It has not disclosed the amount of proposed transaction but said it has signed an agreement to acquire the majority shares of Sanofi Bangladesh, Beximco said in a press release.
Sanofi Group currently holds 54.6 percent shares in the paid-up capital of Sanofi Bangladesh.
Industries ministry holds nearly 25.36 percent and Bangladesh Chemical Industries Corporations holds around 19.96 percent shares of Sanofi Bangladesh.