Sanofi Acquires 2.3% Of Its Shares From L'Oréal In €3B Buyback To Enhance Shareholder Value

Author: Benzinga Newsdesk | February 03, 2025 02:25am

The acquisition is structured as an off-market block trade and is not subject to any specific conditions. The acquisition is pursuant to an agreement approved by Sanofi's Board of Directors as a related-party agreement, in compliance with article L.225-38 of the French Commercial Code, entered into on February 2, 2025. It is expected to be completed in the coming days. The transaction will involve the acquisition of 29,556,650 shares at a price of €101.50 per share, reflecting a discount of 2.8% to the closing price on January 31, 2025. The total consideration of the transaction amounts to €3 billion. Shares acquired from L'Oréal will be cancelled at the latest on April 29, 2025. The acquisition of these shares is expected to be accretive to Sanofi's earnings per share, further enhancing shareholder value.

After cancellation of the shares and excluding treasury shares, L'Oréal will own 7.2% of Sanofi, with 13.1% of voting rights1.

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