French cosmetics group L'Oreal is to increase its stake in Swiss dermatology firm Galderma to 20% from about ⁠10%, the Swiss firm said in a statement on Monday.

L'Oreal ⁠is buying the stake for an undisclosed sum from a consortium led by Swedish ‍private ‌equity firm EQT, which includes Abu Dhabi ⁠Investment Authority and ‌Auba Investment Pte. Ltd. The ‌deal is due to close in the first quarter of 2026. As a result, Galderma is looking into ‍replacing board members representing the consortium by two non-independent board candidates from L’Oreal at ‌the ⁠company's next annual general meeting in ⁠2026, it said.

"Galderma continues to deliver impressive growth, strong innovation, and category leadership across its broad, science-based dermatology portfolio," said Galderma's CEO Flemming Ø

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