L'Oreal acquires 10% stake in dermatology company Galderma
Corrects to show stake is 10%, not 105, in headline
Aug 5 (Reuters) -L'Oreal OREP.PA has announced the acquisition of a 10% stake in dermatology solutions provider Galderma Group GALD.S , the French cosmetics giant said in a statement on Monday.
The company acquired the shares from Sunshine SwissCo AG, Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte Ltd for an undisclosed sum and the transaction will be funded with L'Oreal's available cash and credit lines.
This acquisition forms part of a broader strategic scientific partnership between L'Oreal and Galderma, L'Oreal said, adding that the closing is expected to be completed in coming days.
Reporting by Gianluca Lo Nostro; Editing by Christian Schmollinger
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