on L'OREAL (EPA:OR)
L’Oréal Group acquires 10% of Galderma
L'Oréal Groupe announced the acquisition of 10% of the capital of Galderma from Sunshine SwissCo AG, Abu Dhabi Investment Authority and Auba Investment Pte. Ltd., for an undisclosed amount. This investment is accompanied by a strategic scientific partnership between the two companies.
Nicolas Hieronimus, CEO of L'Oréal, said that this alliance aims to strengthen L'Oréal's position in the growing aesthetics market. Galderma will continue to operate independently, with the support and confidence of L'Oréal in its long-term growth potential.
The deal, financed by L'Oréal's cash flow and a credit facility, will be finalized in the coming days. An investor conference call is scheduled for August 5.
R. H.
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