Novartis Keeps Its $14B Stake in Roche

Oct 12, 2017

Reuters

Reuters reports that Novartis decided not to sell its roughly $14 billion, 33 percent voting stake in Roche, according to Chairman Joerg Reinhardt in an interview in Swiss newspaper HandelsZeitung.

“We said we would review whether it makes sense to sell the stake,” Reinhardt said. “We came to the conclusion that that’s not the case. We have made no decision to actively move ahead with the sale.”

Last May, CEO Joe Jimenez said he decided to sell the Roche stake without a premium and that the company had discussed options with banks.

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