March 31 (Reuters) – French drugmaker Sanofi ( SASY.PA ) has begun a process to turn its Indian consumer healthcare business into a listed entity through a demerger, the newspaper Economic Times reported on Friday.
The company is working with Bank of America on the spin-off process, ET reported, citing people familiar with the matter.
Sanofi India did not immediately respond to a Reuters request for comment.
About 60% of Sanofi India is owned by Sanofi and its wholly owned subsidiary Hoechst Gmbh, while the rest is held by foreign and domestic institutional and retail investors, the report said, which adding that the consumer business will be listed separately with a similar shareholding pattern. .
Reporting by Jyoti Narayan in Bengaluru; editing by Uttaresh Venkateshwaran
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