L’Oréal to raise stake in Galderma to 20%

Core Viewpoint - L'Oréal Groupe is set to acquire an additional 10% stake in Galderma Group, raising its total ownership to 20%, with the transaction expected to complete in the first quarter of 2026, pending regulatory approvals [1][2]. Group 1: Acquisition Details - The additional shares will be purchased from a consortium led by EQT, including Sunshine SwissCo, Abu Dhabi Investment Authority (ADIA), and Auba Investment [1]. - Financial terms of the deal have not been disclosed [1]. - The acquisition will be financed through L'Oréal's existing cash resources and credit facilities [2]. Group 2: Strategic Intent - L'Oréal's CEO emphasized that aesthetics is a key area for growth adjacent to their core beauty business, and the initial investment in Galderma has been successful [2]. - Following the deal, Galderma's board will consider nominating two non-independent board candidates from L'Oréal for the 2026 Annual General Meeting [3]. Group 3: Future Collaboration - The two companies plan to explore new joint scientific research initiatives to expand their existing collaboration [4]. - Galderma's CEO expressed satisfaction with L'Oréal's increased investment, indicating confidence in future value creation [4]. - Galderma operates in 90 countries and is listed on the SIX Swiss Exchange [5].