Mergers and Acquisitions

* On December 9, 2013,  the Caisse des Depots, a French public group and long-term investor in regional economic development, has signed an agreement with Sanofi to cover the Caisse des Depots buy-back of Biocitech, the technology park dedicated to life sciences.

Biocitech is a key element in the development of the biotechnology sector in the Seine-Saint-Denis department and in the Ile de France region. In 2002, Sanofi decided to launch an industrialization operation in partnership with the local authorities. Biocitech was fully established in 2003 and demonstrates Sanofi’s commitment to rehabilitate the area. The biotechnology and life sciences park currently hosts 25 companies, which employ around 350 people in Romainville. This agreement has been established in collaboration with local authorities and the Ile de France institutions. Their aim is to develop the technology park. A new company, Biocitech Immobilier, will own it. The Caisse des Depots will retain an initial 40 per cent share. They will acquire the remaining 60 per cent of the shares after further redevelopment is complete in the Galien building. Galapagos, one of the resident companies, will move into the Galien building in 2015. Additionally, a portion of the site, representing 3.4 hectares (9.21 acres) will be rehabilitated and reorganized, in order to promote the economic development of the area. The objective is to turn Biocitech into an open campus. The firms installed at Biocitech will complement one another and generate strong synergies and collaborations.

Sanofi was represented by general secretary Philippe Peyre. Jean-Pierre Jouyet, general manager and Stephane Keita, territorial and network development manager represented the Caisse des Depots. Claude Bartolone, president of the French National Assembly and representative for the Seine-Saint-Denis department attended official signing. He was joined by Corinne Valls, vice-president of the Seine-Saint-Denis departmental council and Mayor of Romainville and Stephane Troussel, president of the Seine-Saint-Denis departmental council. Gerard Cosme, president of the Est Ensemble metropolitan area also attended the ceremony with the Biocitech SAS president, Jean-Francois Boussard.