Solvay Shareholder Denies Approach from Sanofi-Aventis

Solvac (Brussels), the family owned holding vehicle, which controls 30.07% in Solvay, has denied press reports that it has been approached about the potential sale of Solvay's pharmaceuticals business. "Solvac denies any contact with third parties about the sale of its participation in Solvay, in part or in total," the company said today. A report in the Financial Times stated that Sanofi-Aventis has made a direct approach to Solvac but that Solvac rejected the offer, which valued the whole company at €7.2 billion ($9.6...

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