Deals
Sandoz Family Pares Novartis Stake With $2.9 Billion Sale
Novartis AG signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, Dec. 31, 2024.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Novartis AG’s Sandoz family sold a roughly 1.2% stake in the Swiss pharmaceutical group for 2.6 billion Swiss francs ($2.9 billion).
The Sandoz Family Foundation, through the vehicle Emasan AG, offered 26.5 million shares via an accelerated placement to investors, according to terms seen on Wednesday. The offering priced at a 2.5% discount to the stock’s Tuesday closing price.