Sanofi Gets Further 25% Stake In Chinoin
French pharmaceutical and beauty company Sanofi has acquired a further 25% stake in the Hungarian company Chinoin, it confirmed to the Marketletter last week. The latest share purchase was made from the Hungarian State privatization company the AVRt.
Before the acquisition of the additional stake, Sanofi held a 51% stake in the firm, which means that Sanofi's stake increases to 76%. Chinoin recorded pretax profits of 4 billion forint ($28.9 million) in 1994 and net sales of 18.1 billion forint, according to Hungary's MTI Econews.
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