Novartis: Sandoz spin-off confirned for 4 October

(CercleFinance.com) - Novartis confirms its plans for the 100% demerger of Sandoz, its generics and biosimilars division, with trading in new Sandoz Group AG shares and ADRs (American Depositary Receipts) set to start on 4 October.


This announcement follows the transaction's approval by Novartis shareholders at the EGM on 15 September, and the receipt of key regulatory approvals, including that for the listing of Sandoz shares on the SIX Swiss Exchange.

Accordingly, each shareholder will receive one Sandoz share for every five Novartis shares, and each ADR holder will receive one Sandoz ADR for every five Novartis ADRs, or cash for any fractional interest.


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