Sanofi set to announce restructuring plans -union

PARIS, June 19 (Reuters) - French drugmaker Sanofi-Aventis (SASY.PA) is set to announce a major restructuring of some of its business lines, a member of the CGT trade union said on Friday.

The CGT member told Reuters Sanofi had met staff union members on Friday. At the meeting, Sanofi said it would give more details of the restructuring plan at a meeting with unions in the week of June 29.

A Sanofi spokesman declined to comment.

Last October, Sanofi said it was planning to cut 927 jobs in France, as the company faces challenges from rivals on some of its key products.

Sanofi shares closed up 1 percent at 48.40 euros on Friday, giving the company a market capitalisation of around 63 billion euros ($87.70 billion). ($1=.7183 Euro)

(Reporting by Noelle Mennella; editing by Sue Thomas)