Latham Advises L’Oréal on Acquisition of Minority Stake in Galderma

Latham & Watkins has advised L’Oréal, the world leader in beauty, on the acquisition of a 10% share capital of Galderma Group AG (Galderma), the pure-play dermatology category leader and one of the world’s largest players in injectable aesthetics, from Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd. (all acting in coordination as sellers).

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 across a broad range of dermatological solutions, and L’Oréal’s expertise in skin biology, diagnostic tools, and evaluation methods. 

The L’Oréal legal team was led by Alexandre Menais, Arnaud de Rochebrune, and Philippe Alquié.

The Latham team was led by Paris corporate partner Pierre-Louis Clero, with partner Thomas Margenet-Baudry, counsel Raphaël Darmon, and associates Pauline Le Faou, Mya Lemseffer, and Kenza Driss. Advice was also provided on antitrust matters by Paris partner Jacques-Philippe Gunther, with associates Julien Morize and Marion Penloup; on IP and commercial contract matters by Paris partner Jean-Luc Juhan, with associate Daniel Martel; and on tax matters by Paris partner Olivia Rauch-Ravisé, with associate Camille Pons.