Sanofi (owned by Elf Aquitaine) and Synthelabo (owned by L'Oreal) merged in late 1998/1999 to create Sanofi-Synthelabo, a major French pharmaceutical company. The deal was driven by parent companies seeking to create a globally competitive pharma platform. Sanofi-Synthelabo later acquired Aventis in 2004 to become Sanofi-Aventis.