L'Oreal to acquire 10% stake in Swiss skin care firm Galderma

French cosmetics company L'Oreal is to acquire a 10% stake in Swiss skin care firm Galderma, the two companies said on Monday.

"L'Oreal today announces the acquisition of a 10% stake in Galderma Group AG from Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA), Auba Investment Pte. Ltd" for an undisclosed amount, L'Oreal said.

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Galderma said in a statement it had signed a memorandum of understanding with L'Oreal to work towards a new research and development collaboration in the form of a scientific partnership focused on complementary research projects.