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Novartis Would Be Willing to Sell Roche Stake, CEO Tells F&W 2013-11-12 15:45:07.46 GMT
By Naomi Kresge Nov. 12 (Bloomberg) -- Novartis’s stake in Roche Holding is a financial investment with strategic components, Novartis CEO Jimenez tells Finanz und Wirtschaft in an interview. * Novartis would only sell Roche stake if co could get full value for shareholders: Jimenez * Roche stake is worth more than amount reflected in share price; would be difficult to buy in mkt: Jimenez * Animal health unit “lacks critical mass,” and co. is looking at all options for reaching the required size: Jimenez * Novartis seeks deals like last year’s $1.5b Fougera purchase; doesn’t need large deal to be mkt leader: CEO * NOTE: Novartis starts a strategic review of its units and wld consider a $10b deal, Chairman Joerg Reinhardt said in August * NOTE: Novartis prepared to consider options for non-core assets, JPM said in September * NOTE: Jimenez said in September Novartis’s ‘emotion’ on Roche stake has changed
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To contact the reporter on this story: Naomi Kresge in Berlin at +49-30-70010-6233 or nkresge@bloomberg.net
To contact the editor responsible for this story: Phil Serafino at +33-1-5530-6277 or pserafino@bloomberg.net