L'Oréal just doubled down on its Galderma investment by grabbing another 10 percent from the EQT-led consortium that also had Abu Dhabi Investment Authority and Auba Investment holding stakes. Bär & Karrer repped the French beauty giant while Homburger backed EQT, and Niederer Kraft Frey jumped in for Galderma with Ropes & Gray handling antitrust stuff. The cosmetics company originally co-owned the Swiss dermatology outfit with Nestlé before bailing back in 2014, but they bought back in last year, chasing that injectable aesthetics market.
CEO Nicolas Hieronimus called it a successful bet that they wanted to expand, while Galderma boss Flemming Ørnskov said the extra cash validates their growth plan. The companies made clear there are no plans for more stake increases, and L'Oréal gets two board seats at the next shareholder meeting to replace the consortium reps.
CEO Nicolas Hieronimus called it a successful bet that they wanted to expand, while Galderma boss Flemming Ørnskov said the extra cash validates their growth plan. The companies made clear there are no plans for more stake increases, and L'Oréal gets two board seats at the next shareholder meeting to replace the consortium reps.
