EQT sells 8.4% in Galderma: the advisors

EQT, as part of a consortium of sellers, completed the sale of 8.4 % 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.

In connection with the deal Homburger represented EQT, while Niederer Kraft Frey (NKF) advised the banking syndicate, including Citigroup, Goldman Sachs, Jefferies, Merrill Lynch International, Morgan Stanley and UBS.

The context

The bookbuilding process – directed at professional investors in Switzerland and qualified investors outside the Country – led to the placement of 20 million shares in Galderma Group (Galderma), standing at CHF 130 per share and raising a total amount of approximately CHF 2,600 million in total.

Pursuant to the operation, the sellers will remain shareholders of 24.6% of the share capital of Galderma, with EQT retaining its representation on the company’s board of directors.

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, Lucas Forrer, Jannis Zafeirakos, Jana Waldvogel (all corporate / M&A, capital markets), Micha Fankhauser (financial market regulation) , and Stefan Oesterhelt (tax).

The NKF team

Capital markets partner Deirdre Ni Annrachain (pictured) led the NKF team on the matter, working together with associate Manuel Hirlinger and junior associate Matthias Schmid (both capital markets).