The board of directors of Czech generic drug maker Zentiva NV (BAAZEN.PR) reiterated Monday at an extraordinary general meeting its support for Sanofi-Aventis SA's (2057.FR) EUR1.8 billion takeover of the company, Zentiva said in a statement Monday.

"The main item on the agenda of the EGM was the recommended voluntary takeover offer by Sanofi-Aventis Europe, at a price of CZK1,150 per share (and) the board reiterated its support for the improved Sanofi offer and recommend that shareholders accept it," the statement said.

The European Commission cleared the French pharmaceutical giant's move Feb. 4, provided Sanofi-Aventis sell 15 drugs in central and eastern Europe.

Sanofi already owns 24.9% of Zentiva, the largest stake in the company, while 24.3% is held by Czech financial company PPF Group NV in concert with Generali PPF Holding BV, the Eastern European joint venture of PPF Group and Italian insurer Assicurazioni Generali SpA (G.MI).

Company Web site: www.zentiva.cz

-By Sean Carney, Dow Jones Newswires; +420 222 191 375; sean.carney@dowjones.com