L’Oréal’s 10% stake acquisition in Galderma: the advisors

Bär & Karrer advised L’Oréal on its acquisition of a 10% stake in Galderma Group, from Sunshine SwissCo, Abu Dhabi Investment Authority, and Auba Investment (a consortium led by EQT). Homburger acted as transaction counsel to EQT. In connection therewith, L’Oréal has agreed vis-à-vis Sunshine SwissCo to certain undertakings as part of a shareholders’ agreement. Following the transaction, no changes to the Galderma board of directors and its governance are envisioned.

In addition, L’Oréal and Galderma have agreed to work towards a strategic scientific partnership that will leverage the undisputed expertise of both companies: Galderma’s expertise across a broad range of dermatological solutions, and L’Oréal’s expertise in skin biology, diagnostic tools, and evaluation methods.

Bär & Karrer’s team

Bär & Karrer is acting as Swiss legal counsel for L’Oréal. The team includes partner Mariel Hoch (pictured above), partner Dieter Dubs, counsel Fabienne Perlini-Frehner, associate Marlene Lienau, associate Dominic Leu, junior associates Joshua Baisch and Jorim Braun (all public M&A), counsel Jonas Bornhauser and junior associate Giulia Grandi (both IP), partner Mani Reinert (antitrust), partner Raoul Stocker and associate Patrick Schmid (both tax).

Homburger’s team

The team was led by corporate / M&A, capital markets partners Frank Gerhard (pictured below left) and Margrit Marti (pictured below right) and comprises Estelle Piccard, Simone Schmid and Héloïse de Jamblinne (all corporate / M&A), Stefan Oesterhelt (tax), Richard Stäuber (competition) as well as Micha Fankhauser (financial market regulation).