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Beauty Industry, Mergers and Acquisitions

L’Oréal Sells Sanofi Stock Back to Pharmaceutical Group

This deal will ‘optimize’ the group’s balance sheet.

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By: Rachel Klemovitch

Assistant Editor

Beauty Packaging’s No.1 Top Company, L’Oréal, announced that it is selling its 2.3% stake in Sanofi back to the pharmaceutical group. 
 
The deal includes roughly 29.6 million of L’Oréal’s Sanofi shares and aims to optimize L’Oréal’s balance sheet. L’Oréal will remain a shareholder, keeping 7.2% of Sanofi’s share capital and 13.1% of its voting rights.
 
This is part of Sanofi’s buy-back program and aligns with Sanofi’s capital allocation policy. 
 
L’Oréal CFO, Christophe Babule, commented, 
 
“Consistent with the trusted relationship that L’Oréal and Sanofi have built 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.”
 
Recent L’Oréal investments include acquiring the Korean brand Dr.G and gaining 10% of Galderma. 

Photo: 4kclips/ shutterstock.com

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