Agreement Between L’Oréal and Sanofi for the Repurchase by Sanofi of 2.3% of Its Own Shares Held by L’Oréal

Core Points - L'Oréal has agreed to sell approximately 29.6 million shares of Sanofi at €101.5 per share, totaling €3 billion, which will result in L'Oréal owning 7.2% of Sanofi's share capital and 13.1% of its voting rights after the transaction [1][2][9] - The transaction aims to optimize L'Oréal's balance sheet following recent acquisitions and diversify its financing sources, and it will be executed through an off-market block trade without any conditions [2][3] - L'Oréal's CFO expressed confidence in Sanofi's prospects and reaffirmed the company's commitment as a loyal shareholder, highlighting a trusted relationship built over more than 50 years [3][4] Company Overview - L'Oréal, a leading beauty player for 115 years, generated sales of €41.18 billion in 2023 and has a diverse portfolio of 37 international brands [4] - The company employs over 90,000 people and operates 20 research centers globally, focusing on innovation in beauty and aiming to become a Beauty Tech powerhouse [4]