Homburger | View firm profile
On November 20, 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 16,000,000 shares in Galderma Group AG (Galderma) at a price of CHF 80 per share (the Placement), raising a total of ca. CHF 1.28 bn in total.
The Sellers will remain shareholders of 54.48% 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’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 November 25, 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&A, Capital Markets) and included Lorenzo Togni, Estelle Piccard and Héloïse de Jamblinne (all Corporate / M&A, Capital Markets), Micha Fankhauser (Financial Market Regulation) as well as Stefan Oesterhelt (Tax).