Homburger and NKF on sale of 6.73% of Galderma

Homburger advised EQT, leader of the SwissCo consortium, in the transaction. Meanwhile, Niederer Kraft Frey represented the banking syndicate consisting of Citi, Goldman Sachs, Jefferies, Morgan Stanley, and UBS.

SwissCo, together with the Abu Dhabi Investment Authority (ADIA), and Auba Investment (all acting as the sellers) launched an accelerated bookbuilding process directed to professional investors in Switzerland and qualified investors outside Switzerland. The process has led to the successful placement of 16,000,000 shares in Galderma Group (Galderma) for CHF 80 per share (the Placement), raising circa CHF 1.28 bn.

Sellers will keep 54.48% of Galderma’s share capital. As a result, EQT’s representation on the Board of Directors of Galderma remains unchanged. The placement will broaden Galderma’s shareholder base and free float. Consequently, the sellers have agreed to a 90-day lock-up period, subject to certain customary exceptions, concerning their remaining holding in Galderma.

The Placement is expected to be settled on November 25, 2024. Following the placement, no changes to the Galderma board of directors and its governance are projected.

Homburger’s team

Homburger advised EQT with a team led by partner Frank Gerhard (Corporate/M&A, Capital Markets, pictured-left) and included partner Lorenzo Togni, associate Estelle Piccard, and associate Héloïse de Jamblinne (all Corporate / M&A, Capital Markets), counsel Micha Fankhauser (Financial Market Regulation), partner Stefan Oesterhelt (Tax).

NFK’s team

NKF acted with a team led by capital markets partner Deirdre Ní Annracháin (pictured-right), working together with associate Benedikt Hadorn (Capital Markets).