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Sanofi talks to potential bidders

Sanofi talks to potential bidders

SANOFI, France's second-largest drugs maker, said on Thursday that it was in talks with potential bidders for its cosmetics and fashion units after LVMH, the luxury goods maker, pulled out of the bidding.

Unilever, the Anglo-Dutch consumer products giant, has said it is interested in the business, which include the Yves Saint Laurent fashion house and is valued at around $1bn (pounds 600m). Sanofi wants to sell its beauty division, which last year had sales of $710m, to focus on pharmaceuticals after its recent takeover of smaller rival Synthelabo.