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Sanofi India to sell its commercial premises in Mumbai for Rs 134.25 crore

12 Nov 2014 Evaluate

Sanofi India has received an approval for selling its commercial premises, being five floors and corresponding car-parking spaces in the building known as Hoechst House situated at Nariman Point, Mumbai to Bright Star Investments and its Group companies for a total consideration of Rs 134.25 crore. The board of directors at their meeting held on November 11, 2014 has approved for the same.

Each floor admeasures 7,442 square feet carpet area and all the floors have presently been given out on leave and license basis by the company to various third parties. The transaction is expected to be completed in the quarter ending December 31, 2014.

Sanofi, a global and diversified healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, rare diseases, consumer healthcare, emerging markets and animal health.

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