UPDATE 1-Galderma investors sell $6.3 billion of stock in biggest deal of its kind

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Carlyle Group Inc

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- A group of shareholders in Swiss pharmaceuticals firm Galderma GALD.S has sold $6.28 billion of its stock in the biggest ever private equity-backed block trade.

  • Swedish private equity investor EQT, the Abu Dhabi Investment Authority (ADIA) and Auba Investment, which listed the skincare and dermatology company in 2024, sold their remaining 14.3% stake on Tuesday in an accelerated bookbuild, according to a statement from EQT.

  • It marks the consortium's full exit from its stake in Galderma around two years after the company listed on the Swiss SIX exchange.

  • The deal priced Galderma's shares at 143.75 Swiss francs per share, a 7% discount to their closing price, according to a bookrunner on the deal.

  • Galderma bought back 1.6 million shares for a value of 232 million Swiss francs in the deal, according to a statement from the company.

  • The consortium's sale of stock is the biggest ever private equity-backed deal of its kind, topping the $3.5 billion sale of shares in U.S. listed Medline last week by a consortium that included the ADIA and the Carlyle Group, according to figures from Dealogic, shared by EQT.

  • Equity investors accelerated dealmaking last week as markets were roiled by the war in Iran. Around $20 billion worth of equity deals were struck globally in the three days of trading from Friday February 27 to Tuesday March 4, according to LSEG data, making up nearly 16% of the roughly $130 billion of deals launched so far this year.

  • The pace of dealmaking over that period was nearly triple the average daily amount over the prior two months.