L’Oréal announced yesterday that it had signed an agreement with Sanofi to sell around 29.6 million of the latter’s shares, representing 2.3% of the pharmaceutical company’s capital.
These shares will be sold at a unit price of €101.5, bringing the total value of the transaction to €3 billion. Following this transaction, L’Oréal will remain a shareholder of Sanofi, but its stake will be reduced to 7.2% of the capital and 13.1% of the voting rights, after cancellation of the repurchased shares.
Optimizing the balance sheet and maintaining strategic support
This sale is part of an optimized financial management approach, following the recent acquisitions made by the Group. The transaction will enable L’Oréal to strengthen its balance sheet and diversify its sources of financing, thereby contributing to greater financial flexibility for future projects and investments.
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