Novartis to Sell Roche Stake Without Premium

May 25, 2016

Reuters

Novartis is ready to sell its $13.8 billion stake in rival Roche without demanding a premium, said CEO Joe Jimenez.

Novartis has been discussing options with banks for selling its Roche shares worth about $13.81 billion, possibly with an eye toward providing cash for new deals, according to a Reuters article.

In the past, Jiminez has said he would want a premium price for the Roche stake, but on Wednesday, he said that is no longer a dealbreaker.

Read the Reuters article