Novartis discussing Roche stake sale, but not imminent -sources

Roche Holding AG

25/04/2016 09:41

LONDON/ZURICH, April 25 (Reuters) - Novartis  NOVN.S  is 
discussing options with banks for selling its 13.5 billion Swiss 
franc ($13.8 billion) stake in rival Roche  ROG.S , though a 
sale is not imminent, according to two people familiar with the 
situation. 
    "Sooner or later the stake will be sold and Novartis is 
talking to banks about how it could be done. But nothing is 
imminent," one source said. He added that an order book process 
with selected investors would probably be the "cleanest" 
process. 
    The second source said that Novartis had shown increased 
interest in planning for the sale of the stake in recent weeks. 
    Novartis, which describes its one-third stake in Roche's 
voting stock  RO.S  as a financial investment with a strategic 
component, declined to comment. Roche also declined comment.  
   
 
 (Reporting by Ben Hirschler in London and Joshia Franklin in 
Zurich) 
 ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)) 
 
Keywords: NOVARTIS ROCHE/