Roche to repurchase Novartis' stake in Roche

On November 4, 2021, Roche Holding AG and Novartis Holding AG announced that Roche would repurchase 53.3 million Roche shares from Novartis for an aggregate consideration of approx. CHF 19 billion. The transaction is subject to the approval by the shareholders of Roche. In the context of the transaction, the Roche family pool holding approx. 45% of the Roche shares was granted an exemption by the Swiss Takeover Board from the duty to make a mandatory tender offer for all Roche securities.

Lenz & Staehelin acts as legal advisor to the Roche family pool.