The stake Emasan is selling represents roughly 1% of Novartis's outstanding shares, the pharma company said.
The vast majority of Novartis shareholders are institutional investors with a long-term view, which the company expects to continue, a Novartis spokesperson said.
Books for the deal are covered, the bookrunner said.
Emasan was the second largest Novartis shareholder at the end of 2024 with 4.1% of the stock, according to the firm.
Sandoz was one of the two predecessor companies which combined to form Novartis in 1996.
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