L ' Oréal sign sale of Galderma to Nestlé

The French cosmetics company L ' Oréal announced on Monday the signing of the final agreement with Nestlé to the sale of its 50% stake in the manufacturer of dermatological products Galderma. The 48.5 million shares represent 8% of the capital stock of Galderma.
Disclosure
The operation had already been announced on 11 February and was approved by the Board of Directors of L ' Oréal in a meeting on Thursday, after having been submitted to the appreciation of entities that represent the employees. The signing of the agreement was held on Friday.
The deal was valued at 6 billion euros. The partnership between the two companies, Nestlé and Galderma, lasted 40 years. The new name of Galderma will be Nestlé Skin Health.
The completion of the sale still depends on the approval of antitrust authorities.
In Brazil, the Galderma owns a factory in Hortolândia (SP).