March 11 (Reuters) - A group of shareholders in Swiss
pharmaceuticals firm Galderma has sold $6.28 billion of
its stock in the biggest ever private equity-backed block trade.
* Swedish private equity investor EQT, the Abu Dhabi
Investment Authority (ADIA) and Auba Investment, which listed
the skincare and dermatology company in 2024, sold their
remaining 14.3% stake on Tuesday in an accelerated bookbuild,
according to a statement from EQT.
* It marks the consortium's full exit from its stake in
Galderma around two years after the company listed on the Swiss
SIX exchange.
* The deal priced Galderma's shares at 143.75 Swiss francs
per share, a 7% discount to their closing price, according to a
bookrunner on the deal.
* Galderma bought back 1.6 million shares for a value of 232
million Swiss francs in the deal, according to a statement from
the company.
* The consortium's sale of stock is the biggest ever private
equity-backed deal of its kind, topping the $3.5 billion sale of
shares in U.S. listed Medline last week by a consortium that
included the ADIA and the Carlyle Group ( CG ), according to figures
from Dealogic, shared by EQT.
* Equity investors accelerated dealmaking last week as
markets were roiled by the war in Iran. Around $20 billion worth
of equity deals were struck globally in the three days of
trading from Friday February 27 to Tuesday March 4, according to
LSEG data, making up nearly 16% of the roughly $130 billion of
deals launched so far this year.
* The pace of dealmaking over that period was nearly triple
the average daily amount over the prior two months.