PUIG Brands

Puig Brands is buying Esteve’s 50% stake in dermatology brand ISDIN for €1.2 billion, gaining full control. Puig will pay €900 million at closing (expected end of Q1 2027) and defer €300 million to Q1 2029; the financing will come from cash and new debt. Investors reacted negatively to the expected short-term increase in leverage and the reduced financial flexibility, sending the share price down about 3.5% to €16.88. » More on de.investing.com

Puig has reached an agreement to acquire Esteve’s 50 percent stake in ISDIN for a total of €1.2 billion. At closing Puig will pay €900 million, with a further €300 million scheduled for Q1 2029. The transaction, expected to receive approval by the end of Q1 2027, will be financed with equity and debt; net debt is not to exceed two times adjusted EBITDA. With the purchase Puig secures full control of ISDIN and strengthens its commitment to the dermatological skincare market. » More on de.investing.com

Estée Lauder shares rose about 10% in morning trading after the company and Puig mutually ended their merger talks. Estée Lauder said it will continue to focus on the turnaround strategy "Beauty Reimagined," emphasizing premium product launches and supply‑chain optimization. Analysts and investors welcomed the split, fearing a tie‑up would have brought integration risks, balance‑sheet burdens and distracted from the restructuring program. Recently raised full‑year guidance and plans to cut up to 3,000 jobs further supported the recovery story. » More on de.investing.com