PARIS: Sanofi announced the acquisition of 2.3% of its shares from long-term shareholder L’Oréal as part of its share buyback program initiated on Jan. 30, 2025. The move aligns with Sanofi’s capital allocation strategy and commitment to sustainable value creation for shareholders.
“L’Oréal has been a trusted shareholder and partner for decades, playing a key role in supporting Sanofi’s growth and transformation,” said François Roger, Chief Financial Officer of Sanofi. “We are pleased to retain L’Oréal as one of our largest shareholders. This transaction highlights Sanofi’s dedication to sustainable value creation while upholding our strategic priorities and preserving the strength of our key partnerships.”
The transaction, structured as an off-market block trade, involves the acquisition of 29,556,650 shares at €101.50 per share, reflecting a 2.8% discount to the closing price on Jan. 31, 2025. The total consideration for the deal amounts to €3 billion. The shares acquired from L’Oréal will be canceled by Apr. 29, 2025, enhancing Sanofi’s earnings per share and shareholder value.
Following the cancellation of the shares, L’Oréal will own 7.2% of Sanofi, with 13.1% of voting rights. The acquisition agreement, approved by Sanofi’s Board of Directors in compliance with the French Commercial Code, was entered into on Feb. 2, 2025, and is expected to be completed shortly.
Finexsi, represented by Olivier Peronnet and Olivier Courau, served as an independent expert to review the transaction. In its opinion, Finexsi confirmed that the price of the repurchased shares is fair for Sanofi and its shareholders, and the transaction is in the best interest of the company.