L’Oréal Sells 2.3% Stake in Sanofi to Sanofi

Cleary Gottlieb is representing L’Oréal SA (L’Oréal) in its off-market block sale of 2.3% of Sanofi’s share capital to Sanofi.

This share repurchase, which will amount to €3 billion, is part of the €5 billion Sanofi share buyback program for 2025. The transaction, which will be carried out through an off-market block trade, is not subject to any condition precedent and is expected to be finalized in the coming days.

Upon completion of the transaction and cancellation of the repurchased shares, L’Oréal will own 7.2% of Sanofi’s share capital and 13.1% of its voting rights.