Still No Answers On Lorex At Synthelabo
The future of Synthelabo in the USA is still undecided in relation to the French firm's stake in the US joint venture Lorex, in which Synthelabo has a 49% holding and Monsanto's Searle 51%.
Synthelabo has a right to acquire some or all of the stake it does not hold from Searle by the year 2000 (Marketletters passim). The firm's chairman, Herve Guerin, said at a meeting in Paris, France, to announce nine-month sales and six-month financial results, that negotiations are ongoing with Searle, but he would not be drawn on how a deal might be reached and what form it might take. However, Mr Guerin did say that profits were the first consideration in this situation and that "we are not going to jeopardize this just for the sake of a presence in the USA."
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