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L’Oréal SA is doubling its stake in Galderma Group AG to 20 percent, as the French cosmetics company increases its bet on skincare drugs.
The purchase price for the 24 million shares — from an investor group led by private equity firm EQT AB — is undisclosed, L’Oréal said Monday. Galderma will consider naming two L’Oréal representatives to its board, replacing directors from the EQT group.
Based on Friday’s closing price for Galderma of 162.80 Swiss francs, a 10 percent stake…
