UPDATE 2-Czech PPF launches bid for drugs maker Zentiva

(Adds analyst, Zentiva no comment, details)

By Jan Lopatka

PRAGUE, May 2 (Reuters) - Czech investment group PPF launched on Friday a 950 crowns per share bid for generic drugs maker Zentiva (ZNTVsp.PR: Quote, Profile, Research), valuing it at 36.2 billion crowns ($2.2 billion), and said it was positive about Zentiva's strategic direction.

PPF said it was acting in concert with PPF Generali Holding, an insurance joint venture of PPF and Italy's Generali (GASI.MI: Quote, Profile, Research).

The joint venture already holds a 19.1 percent share in Zentiva, which is 24.9 percent owned by Sanofi-Aventis (SASY.PA: Quote, Profile, Research) of France. A unit of investment bank J&T holds 7.6 percent in Zentiva.

"The bid is aimed at acquiring such an interest in Zentiva which will enable the offeror to actively influence the strategy and day-to-day business of Zentiva," PPF said in a statement.

The bid valued Zentiva at 1.9 percent above Friday's close of 932.5 crowns.

PPF said its bid was valued at 3.3 percent more than Zentiva's volume-weighted average price per share over the past six months on the Prague Stock Exchange (PSE) and a premium of 3.6 percent above the closing market price on April 30.

"PPF Group evaluates positively the strategic direction that Zentiva is pursuing. PPF Group plans to execute actively its shareholders' rights in order to support the current management's effort focused on further development and increase of the company's value."