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L'Oréal sells Sanofi shares to support Sanofi’s buyback program, aiming to optimize finances and enhance shareholder value.
L'Oréal is selling about 29.6 million Sanofi shares to Sanofi for around 3 billion euros, part of Sanofi's share buyback program announced on January 30.
This transaction will help L'Oréal optimize its balance sheet while it will still hold 7.2% of Sanofi's shares and 13.1% of voting rights.
The deal aims to enhance shareholder value for Sanofi and diversify L'Oréal's financing.
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L'Oréal vende acciones de Sanofi para apoyar el programa de recompra de Sanofi, con el objetivo de optimizar las finanzas y aumentar el valor de los accionistas.