Sanofi Acquires 2.3% of Shares from L’Oréal as Part of Ongoing Buyback Program

Sanofi Acquires 2.3% of Shares from L’Oréal as Part of Ongoing Buyback Program

(IN BRIEF) Sanofi has announced the acquisition of 2.3% of its shares from L’Oréal, a long-standing shareholder, as part of its ongoing share buyback program. The transaction, valued at €3 billion, reflects Sanofi’s commitment to creating sustainable value for shareholders. The shares will be purchased at a 2.8% discount to the market price and will be canceled by April 29, 2025. After the transaction, L’Oréal will retain 7.2% of Sanofi, with 13.1% voting rights. The acquisition is expected to be accretive to Sanofi’s earnings per share. The transaction was independently reviewed and deemed fair by expert firm Finexsi, ensuring the deal’s benefit to both Sanofi and its shareholders.

(PRESS RELEASE) PARIS, 3-Feb-2025 — /EuropaWire/ — Sanofi has announced the acquisition of 2.3% of its shares from long-time shareholder L’Oréal as part of its ongoing share buyback program, which was first revealed on January 30, 2025. This strategic move aligns with Sanofi’s capital allocation policy, which emphasizes sustainable value creation for its shareholders.

François Roger, Sanofi’s Chief Financial Officer, commented on the deal, saying, “L’Oréal has been a valued partner and shareholder for many years, contributing significantly to Sanofi’s growth and transformation. We are pleased to continue having L’Oréal as one of our largest shareholders. This acquisition demonstrates our commitment to creating lasting value while maintaining our strategic focus and preserving our essential partnerships.”

The acquisition, which will be executed as an off-market block trade, is set to proceed without any specific conditions. Approved by Sanofi’s Board of Directors on February 2, 2025, the transaction is a related-party agreement under French Commercial Code article L.225-38. It is anticipated to close shortly. The agreement involves the purchase of 29,556,650 shares at a price of €101.50 each, offering a 2.8% discount from the closing price on January 31, 2025. The total cost of the transaction amounts to €3 billion, and the shares bought from L’Oréal will be canceled no later than April 29, 2025. This transaction is expected to positively impact Sanofi’s earnings per share, enhancing shareholder value.

Once the shares are canceled, L’Oréal will continue to hold 7.2% of Sanofi, with 13.1% of voting rights.

In line with the Autorité des Marchés Financiers’ recommendations, Sanofi’s board appointed an independent expert, Finexsi, represented by Olivier Peronnet and Olivier Courau, to assess the fairness of the transaction. After reviewing the details, Finexsi confirmed that the repurchase price was fair for Sanofi and its shareholders. The transaction will have no adverse effect on Sanofi’s financial standing and is expected to be accretive for both the company and its shareholders.

About Sanofi
We are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve people’s lives. Our team, across the world, is dedicated to transforming the practice of medicine by working to turn the impossible into the possible. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions. Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY

Sanofi forward-looking statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates regarding the marketing and other potential of the product, or regarding potential future revenues from the product. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Although Sanofi’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, unexpected regulatory actions or delays, or government regulation generally, that could affect the availability or commercial potential of the product, the fact that product may not be commercially successful, the uncertainties inherent in research and development, including future clinical data and analysis of existing clinical data relating to the product, including post marketing, unexpected safety, quality or manufacturing issues, competition in general, risks associated with intellectual property and any related future litigation and the ultimate outcome of such litigation, and volatile economic and market conditions, and the impact that pandemics or other global crises may have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi’s annual report on Form 20-F for the year ended December 31, 2023. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.

Media Contacts:

Media Relations
Sandrine Guendoul | + 33 6 25 09 14 25 | sandrine.guendoul@sanofi.com
Evan Berland | + 1 215 432 0234 | evan.berland@sanofi.com
Léo Le Bourhis | + 33 6 75 06 43 81 | leo.lebourhis@sanofi.com
Nicolas Obrist | + 33 6 77 21 27 55 | nicolas.obrist@sanofi.com
Victor Rouault | + 33 6 70 93 71 40 | victor.rouault@sanofi.com
Timothy Gilbert | + 1 516 521 2929 | timothy.gilbert@sanofi.com

Investor Relations
Thomas Kudsk Larsen |+ 44 7545 513 693 | thomas.larsen@sanofi.com
Alizé Kaisserian | + 33 6 47 04 12 11 | alize.kaisserian@sanofi.com
Felix Lauscher | + 1 908 612 7239 | felix.lauscher@sanofi.com
Keita Browne | + 1 781 249 1766 | keita.browne@sanofi.com
Nathalie Pham | + 33 7 85 93 30 17 | nathalie.pham@sanofi.com
Tarik Elgoutni | + 1 617 710 3587 | tarik.elgoutni@sanofi.com
Thibaud Châtelet | + 33 6 80 80 89 90 | thibaud.chatelet@sanofi.com

SOURCE: Sanofi