L’Oréal Boosts Bet on Skin Fillers by Doubling Galderma Stake

L’Oréal SA is doubling its stake in Galderma Group AG to 20%, as the French cosmetics and skincare company increases its bet on the maker of injectable fillers that rival Botox.

Neither L’Oréal nor the seller, an investor group led by private equity firm EQT AB, disclosed the financial details. A 10% stake is worth about 3.9 billion francs ($4.9 billion) based on Galderma’s closing price on Friday. The stock rose as much as 4.5% in Zurich before paring gains.