Sunshine SwissCo sells its share in Galderma: the advisors

On March 10, 2026, Sunshine SwissCo, a consortium led by EQT, the Abu Dhabi Investment Authority (ADIA), and Auba Investment, officialised the launch of an accelerated bookbuilding process to professional investors in Switzerland and to qualified investors outside Switzerland, leading to the successful placement of approximately 34 m shares in Galderma Group.

In connection with the deal, Homburger advised EQT, while Niederer Kraft Frey (NKF) represented the banking syndicate, consisting of Citigroup, Goldman Sachs, Jefferies, J.P. Morgan, Morgan Stanley and UBS.

The placement corresponds to ca. 14.3% of the company’s share capital, at a price of CHF 143.75 per share, with the consortium exiting in full its investment in the Swiss dermatology specialist.

The Homburger team

Frank Gerhard (pictured left) and Margrit Marti (pictured right) led the Homburger team on the matter, working alongside Estelle Piccard and Luca Yousef (all corporate/M&A, capital markets).

The NKF team

Capital markets partner Deirdre Ni Annrachain led the NKF team on the matter, working together with associate Manuel Hirlinger and junior associate Janyar Assa’d — both capital markets.