Sanofi to acquire a 2.3% stake in Sanofi from L’Oréal for $3bn.

Sanofi, a pharmaceuticals manufacturing company, agreed to acquire a 2.3% stake in Sanofi, a pharmaceuticals manufacturing company, from L’Oréal, a manufacturer of cosmetics, for $3bn. “We are very pleased to announce this transaction. Consistent with the trusted relationship that L’Oréal and Sanofi have built over more than 50 years, we will continue to support the development of Sanofi as a loyal and key shareholder and are confident in the prospects of the company,” Christophe Babule, L’Oréal Chief Financial Officer.