The advisors on EQT’s 7.1% Galderma stake sale

Homburger advised EQT as part of a consortium of sellers, in connection with the sale of 7.1% of Galderma’s share capital via an accelerated bookbuilding process. The consortium in question further includes Sunshine SwissCo, the Abu Dhabi Investment Authority (ADIA) and Auba Investment.

Moreover, Niederer Kraft Frey represented BNP Paribas, Citigroup, Goldman Sachs International, Jefferies, Morgan Stanley & Co. International and UBS, serving as joint global coordinators and joint bookrunners in the placement.

The context

The bookbuilding process – directed at professional investors in Switzerland and qualified investors outside the Country – led to the placement of 17 million shares in Galderma Group (Galderma), standing at CHF 123 per share and raising a total amount of approximately CHF 2,091 million.

Pursuant to the operation, the sellers will remain shareholders of 33.0% of the share capital of Galderma, with EQT retaining its representation on the company’s board of directors.

The sellers agreed to a 90-day lock-up period – subject to certain customary exceptions -relative to their remaining holding in Galderma.

The Homburger team

Frank Gerhard (pictured above – left, corporate/M&A, capital markets) and Margrit Marti (pictured above – right, corporate/M&A, capital markets) led the Homburger team on the matter, working alongside Estelle Piccard, Héloïse de Jamblinne and Lucas Forrer (all corporate/M&A, capital markets), Micha Fankhauser (financial market regulation) as well as Stefan Oesterhelt (tax).

The NKF team

Capital markets partner Deirdre Ni Annrachain (pictured) led the NKF team, working alongside associate Manuel Hirlinger (capital markets).