Global law firm White & Case LLP has provided legal advice to Bpifrance, the French public investment bank, regarding its strategic investment in Opella. This investment represents 1.8 percent of Opella’s capital amid Sanofi’s decision to divest its control.
The investment by Bpifrance is part of a larger transaction involving Sanofi’s sale of a controlling 50 percent stake in Opella to Clayton, Dubilier & Rice (CD&R), which was announced in October 2024. Sanofi will maintain a 48.2 percent stake in Opella following this deal. Bpifrance’s involvement aims to support the establishment of an independent global leader in consumer healthcare.
Opella is recognized as Sanofi’s consumer healthcare business and ranks as the third-largest over-the-counter business globally, with products like Allegra, Doliprane, and Dulcolax among its offerings. The transaction also includes the appointment of a Bpifrance representative to Opella’s board of directors.
The team from White & Case that advised on this transaction was led by partners Saam Golshani and Jean-Guillaume Meunier from Paris. It included other partners such as Estelle Philippi, Neeloferr Roy, Orion Berg (all based in Paris), James Turner (London), Thomas Glauden (Luxembourg & Brussels), and Guilhèm Becvort (Luxembourg). Associates involved were Simon Martin-Gousset, Grégoire Berger, Sarah Kouchad, Martin Poirier (all Paris), Arvine Nooralian and Arnaud Marquet (both Luxembourg).
