L’Oréal bolsters its war chest! The French pharmaceutical laboratory Sanofi announced on Monday, February 3, the purchase of 2.3% of the shares held in its capital by the French cosmetics giant for 3 billion euros.
“L’Oréal has been a trusted shareholder and partner for decades, playing a key role in supporting Sanofi’s growth and transformation. We are pleased to retain L’Oréal as one of our largest shareholders. This transaction highlights Sanofi’s dedication to sustainable value creation while upholding our strategic priorities and preserving the strength of our key partnerships,” said François Roger, Sanofi’s Chief Financial Officer.
The transaction involves the acquisition of 29.55 million shares at a price of 101.50 euros per share, “reflecting a discount of 2.8% to the closing price on January 31, 2025,” emphasized the laboratory in a media statement.
Following the transaction, L’Oréal will own 7.2% of Sanofi, with 13.1% of voting rights, added Sanofi.
Shares acquired from L’Oréal will be cancelled at the latest on April 29, 2025.
In a separate statement, Christophe Babule, L’Oréal’s chief financial officer, said the group and Sanofi have built a “trusted relationship” over more than 50 years.
“We will continue to support the development of Sanofi as a loyal and key shareholder and are confident in the prospects of the company,” added Mr. Babule.
