Adia, EQT, Auba exit Galderma: A shareholder group comprising the Abu Dhabi Investment Authority (Adia), Sweden’s EQT AB, and Singapore’s Auba Investment Pte sold its remaining stake in Swiss dermatology specialist Galderma Group AG through a CHF 4.89 bn (USD 6.3 bn) share sale, Bloomberg reports, citing people familiar with the matter.

Combined proceeds from the group’s gradual sell-down of Galderma shares now exceed CHF 20 bn (USD 25.4 bn), implying a return of more than four times the capital invested when the consortium acquired the business from Nestlé SA in 2019. The transaction marks the final step in the exit process, reportedly codenamed Project Indigo, that was upsized twice due to robust demand.

REMEMBER- The consortium has been incrementally selling shares in Galderma, with the latest sale taking place in December 2025 to L’Oréal.

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