Rocher family will control 95% of group capital when agreement is signed
The European pharma company Sanofi has agreed to sell its 19.3% stake in the cosmetics group Yves Rocher to the Rocher family. Once the deal has been completed, the Rocher family will control over 95% of the group's capital. The move is seen as strategic by Sanofi which is engaged in a major streamlining of its operations in France with plant closures and substantial job losses.
Yves Rocher is not disclosing the price to be paid but a family source has already said acquiring the Sanofi's stake was "no big deal", adding that the family already had control and was in this case the sole purchaser.