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Homburger advises EQT on the sale of 6% of Galderma's share capital via an accelerated bookbuilding process

On September 3, 2024, Sunshine SwissCo AG (a consortium led by EQT), the Abu Dhabi Investment Authority (ADIA) and Auba Investment Pte. Ltd. (all acting as the Sellers) announced the launch of an accelerated bookbuilding process to professional investors in Switzerland and to qualified investors outside Switzerland, which led to the successful placement of 14,273,859 shares in Galderma Group AG (Galderma) at a price of CHF 75 per share (the Placement), raising a total of ca. CHF 1.07 bn in total.
The Sellers will remain shareholders of 61.21% of the share capital of Galderma. EQT’s representation on the Board of Directors of Galderma remains unchanged as a result of the Placement. Such Placement will broaden Galderma&#8217;s shareholder base and free float. In connection therewith, the Sellers have agreed to a 90-day lock-up period, subject to certain customary exceptions, with respect to their remaining holding in Galderma.
The Placement is expected to be settled on September 6, 2024. Following the Placement, no changes to the Galderma board of directors and its governance are envisioned.
Homburger acted as transaction counsel to EQT. The Homburger team was led by Frank Gerhard (Corporate / M&amp;A, Capital Markets) and included Lorenzo Togni (Corporate / M&amp;A, Capital Markets), Estelle Piccard, Simone Schmid and Héloïse de Jamblinne (all Corporate / M&amp;A), Micha Fankhauser (Financial Market Regulation) as well as Stefan Oesterhelt (Tax).

Competition

20240706_EQT-Galderma

On August 5, 2024, L&#8217;Oréal and Galderma announced the acquisition of a 10% stake in Galderma Group AG from Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA) and Auba Investment Pte. Ltd. (all acting as sellers), for a non-disclosed amount. In connection therewith, L&#8217;Oréal has agreed vis-à-vis Sunshine SwissCo AG to certain undertakings as part of a shareholders&#8217; agreement. Following the transaction, no changes to the Galderma board of directors and its governance are envisioned.
In addition, L&#8217;Oréal and Galderma have agreed to work towards a strategic scientific partnership that will leverage the undisputed expertise of both companies: Galderma&#8217;s across a broad range of dermatological solutions, and L&#8217;Oréal’s expertise in skin biology, diagnostic tools and evaluation methods.
Homburger acted as transaction counsel to EQT. The team was led by Frank Gerhard and Margrit Marti (both Corporate / M&amp;A, Capital Markets) and comprises Estelle Piccard, Simone Schmid and Héloïse de Jamblinne (all Corporate / M&amp;A), Stefan Oesterhelt (Tax), Richard Stäuber (Competition) as well as Micha Fankhauser (Financial Market Regulation).

Homburger advises EQT on its sale of 10% in Galderma to L'Oréal

ADC Therapeutics

On May 8, 2024, ADC Therapeutics SA (NYSE:ADCT), a commercial-stage biotechnology company headquartered in Switzerland, announced the offering of 13.4 m common shares and, to certain investors who so choose in lieu of common shares, pre-funded warrants to purchase 8.1 m common shares, raising aggregate gross proceeds of USD 105 m.
Homburger advised ADC Therapeutics SA on the Swiss law and tax aspects of this transaction. The Homburger team was led by Daniel Häusermann (Capital Markets, Corporate / M&amp;A) and included Estelle Piccard and Bianca Nedwed (both Capital Markets, Corporate / M&amp;A) as well as Stefan Oesterhelt and Philippe Weber (both Tax).

Estelle
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Homburger advises EQT on the sale of 6% of Galderma's share capital via an accelerated bookbuilding process

Homburger advises EQT on its sale of 10% in Galderma to L'Oréal

Homburger advised ADC Therapeutics SA on its USD 105 m Underwritten Offering of Common Shares and Pre-Funded Warrants

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Homburger advises EQT on the sale of 6% of Galderma's share capital via an accelerated bookbuilding process

Homburger advises EQT on its sale of 10% in Galderma to L'Oréal

Homburger advised ADC Therapeutics SA on its USD 105 m Underwritten Offering of Common Shares and Pre-Funded Warrants

Public Mergers and Acquisitions in Switzerland

Indicative Timeline for an IPO (Switzerland)

Join the Team

Estelle Piccard

Career

Languages

Bar Registration

Teams

Estelle
Piccard