ELF SANOFI MERGER
- The boards of Elf Sanofi and Yves Saint Laurent have approved the proposed merger of the two companies. The merger will be submitted to the shareholders of the companies, following Yves Saint Laurent's status transfer to that of a limited company. In addition, Elf Sanofi has also acquired SODIP SA, a Swiss pharmaceutical and cosmetic products company based at Meryin, near Geneva. SODIP has an annual turnover of around 11 million Swiss francs ($7.67 million) in the Swiss market. The acquisition is intended to strengthen Sanofi's presence in Switzerland, says the company.
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