L'Oréal Sells Sanofi Shares Worth €3 Billion

L’Oréal has reached an agreement to sell 29.6 million Sanofi shares back to the pharmaceutical company at a price of €101.5 per share. This transaction, valued at €3 billion, will see L’Oréal’s ownership in Sanofi reduce to 7.2% of the share capital, maintaining 13.1% of the voting rights.

The sale will enhance L'Oréal's balance sheet following recent acquisitions and diversify its financing sources. Scheduled as an off-market block trade, the transaction will finalize soon without any preceding conditions.

L’Oréal's CFO, Mr. Christophe Babule, expressed satisfaction with the transaction, emphasizing the ongoing supportive relationship with Sanofi as a committed shareholder, and confidence in Sanofi's future prospects.