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Investing.com -- The investment entity of the Sandoz (SIX:SDZ) family, Emasan AG, has sold a substantial portion of its stake in Swiss pharmaceutical giant Novartis (SIX:NOVN), netting 2.6 billion Swiss francs ($2.90 billion).
The transaction was confirmed by the bookrunner on the deal, Goldman Sachs, on Wednesday.
In an accelerated bookbuilt offering, Emasan AG unloaded 26.5 million shares, each priced at 98.25 Swiss francs.
The sale marks a significant capital realization for the Sandoz family’s investment vehicle.
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