By Mauro OrruL'Oreal agreed to acquire a minority stake in Swiss skincare company Galderma, banking on its dermatology portfolio. The French cosmetics giant said it was acquiring a 10% stake in Galderma from EQT-led Sunshine SwissCo, Abu Dhabi Investment Authority and Auba Investment Pte. L'Oreal didn't disclose the value of the stake, but said it would fund the deal through cash and credit lines. A 10% stake in Galderma is valued at roughly 1.59 billion Swiss francs ($1.85 billion) based on the stock's Friday closing price of CHF66.96. Write to Mauro Orru at mauro.orru@wsj.com(END) Dow Jones NewswiresAugust 05, 2024 01:46 ET (05:46 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal August 05, 2024 06:05 UTC