Aug 5 Reuters L39;Oreal has announced the acquisition of a 10 stake in dermatology solutions provider Galderma Group, the French cosmetics giant said in a statement on Monday.

The company acquired the shares from Sunshine SwissCo AG, Abu Dhabi Investment Authority ADIA, and Auba Investment Pte Ltd for an undisclosed sum and the transaction will be funded with L39;Oreal39;s available cash and credit lines.

This acquisition forms part of a broader strategic scientific partnership between L39;Oreal and Galderma, L39;Oreal said, adding that the closing is expected to be completed in coming days.

Reporting by Gianluca Lo Nostro; Editing by Christian Schmollinger

Source Reuters