Sanofi Drawn Into French Tax-Fraud Probe Over Societe Generale Financing Mechanism
MT Newswires Live
Nov 26
Sanofi (SNY) said its premises were visited on Tuesday by authorities as part of an investigation into a financing arrangement offered by Societe Generale more than a decade ago.
The company said the mechanism is under review by the French National Financial Prosecutor's Office and that it believes it complied with all applicable laws and regulations. Sanofi added that it will cooperate with authorities.
Shares of Sanofi were up 1.7% in recent Tuesday trading.
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