Sanofi Repurchases 2.3% of L'Oréal Shares

On February 3, Sanofi announced the acquisition of 2.3% of the shares from long-term shareholder L'Oréal. The transaction is part of Sanofi's share repurchase plan, which is fully in line with Sanofi's capital allocation policy and focuses on creating sustainable value for shareholders.

François Roger, Chief Financial Officer of Sanofi, said, "For decades, L'Oréal has been our trusted shareholder and partner, playing a key role in supporting Sanofi's development and transformation. We are pleased that L'Oréal continues to be one of our largest shareholders. This transaction highlights Sanofi's commitment to sustainable value creation while adhering to our strategic focus and maintaining the strengths of our major partnerships."

The acquisition is an over-the-counter block transaction and is not subject to any specific conditions. L'Oréal will cash out 29.6 million shares at a price of 101.50 euros per share, netting 3 billion euros. After the transaction is completed, L'Oréal will hold 7.2% of Sanofi's shares.

Sanofi shares have risen about 20% in the past 12 months, and L'Oréal has used the gains to revamp its balance sheet following a series of acquisitions.