A Swiss document from last Sunday reports that the pharmaceutical company Novartis ( NOVN.S ), which has a 13.5 billion Swiss franc ($ $13.8 billion) stake in its local rival Roche ( ROG.S ), has already appointed banks to support the sales process.
The world's largest prescription drugmaker began building its stake — which is worth 33 percent of Roche's voting rights — as the basis for a possible merger more than a decade ago, but the plan didn't materialize. never.
The weekly Sonntagszeitung said, citing corporate and banking sources, that Novartis plans to sell the stake in a so-called order book process, in which banks collect offers to buy within a predefined price range by selected investors.
Related news: Sonntagszeitung
