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Galderma investors sell $6.3 billion of stock in biggest deal of its kind
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Galderma investors sell $6.3 billion of stock in biggest deal of its kind
Mar 11, 2026 2:53 AM

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.

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