THE FACT THAT? An investment group led by EQT has exited its remaining stake in Swiss skincare company Galderma through a major share sale.
THE DETAILS EQT AB, Abu Dhabi Investment Authority (ADIA) and Auba Investment Pte, backed by Singapore sovereign wealth fund GIC, sold their remaining shares in Galderma in a 4.89 billion Swiss franc ($6.3 billion) transaction. The deal marked the final stage of its exit strategy, internally called “Project Indigo”, and was expanded twice due to strong investor demand.
Investors originally acquired Galderma from Nestlé in 2019 for about 10.2 billion francs, including debt. Since then, they have gradually reduced their holdings through Galderma’s IPO in 2024 and subsequent share placements. In total, investors have obtained more than 20 billion francs from their investments. Galderma shares have risen more than 180% since going public, supported by strong financial performance and demand for products such as Cetaphil and injectable dermatitis treatment Nemluvio.
THE WHY? The exit reflects a successful private equity investment cycle following Galderma’s public listing and strong share price performance.
Fountain: Bloomberg
