Overview
- L’Oréal agreed to buy about 24 million Galderma shares from an EQT‑led consortium that includes SSCO, ADIA and Auba, raising its holding to 20%.
- The deal will be executed as an off-market block trade and remains subject to customary regulatory approvals, with closing expected by early 2026.
- Galderma will weigh two non‑independent L’Oréal board candidates to replace EQT‑aligned directors starting at the 2026 meeting.
- The purchase price was not disclosed, though recent market levels imply roughly 3.9 billion Swiss francs for the additional 10%, and EQT cited a premium.
- L’Oréal will fund the investment with cash and credit lines, will use equity‑method accounting after completion and says it does not plan to increase its stake further.