Galderma gains L'Oréal as a new major shareholder

Swiss skincare specialist Galderma is entering into a partnership with the French cosmetics group L'Oréal. As part of the cooperation, L'Oréal will acquire a 10% stake in Galderma. +Get the most important news from Switzerland in your inbox A corresponding letter of intent has been signed with L'Oréal, Galderma announced on Monday. Both companies intend to work together in the future as part of a "scientific partnership" in the research and development of new skin care products. Among other things, the focus will be on products designed to reduce the signs of skin ageing. As part of this new partnership, L'Oréal is acquiring a 10% stake in Galderma. An agreement to this effect has been concluded with the sellers Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA) and Auba Investment Pte Ltd. The parties have agreed not to disclose the price of the share package. There will be no changes to Galderma's Board of Directors as a result of L'Oréal's ...