Novartis plans for Alcon spin-off on April 9, 2019

Novartis International AG / Novartis plans for Alcon spin-off on April 9, 2019 . Processed and transmitted by West Corporation. The issuer is solely responsible for the content of this announcement.

• Alcon obtained approval for listing on SIX Swiss Exchange and New York Stock Exchange

Alcon will seek effectiveness of Form 20-F registration statement from the US Securities and Exchange Commission

Alcon will enter key Swiss SMI and SPI indices on first trading day

Alcon's credit rating confirmed as investment grade (Baa2 by Moody's Investor Service and BBB by S&P Global Ratings) in line with medtech peer group

Alcon has secured debt financing of USD 3.5 billion

Basel, March 22, 2019 - Novartis today confirmed that certain important conditions precedent for the 100% spin-off of the Alcon eye care business have been met, including receipt of certain necessary authorizations and rulings. Completion of the transaction, by way of a distribution of a dividend in kind to Novartis shareholders and ADR (American Depositary Receipt) holders, is expected to be on April 9, 2019. In the distribution, each Novartis shareholder will receive 1 Alcon share for every 5 Novartis shares/ADRs they hold on April 8, 2019, close of business.

Approval has been given, subject to customary conditions, by the SIX Exchange Regulation for the listing of the shares of Alcon Inc. on the SIX Swiss Exchange (SIX) pursuant to the International Reporting Standard. Authorization has also been received for the listing of shares in Alcon Inc. on the New York Stock Exchange (NYSE). 

Alcon will seek effectiveness of the Alcon Inc. Form 20-F registration statement from the US Securities and Exchange Commission (SEC). The Alcon Inc. 20-F registration statement is available at www.sec.gov and can also be accessed at the following link after its publication with the SEC: https://www.novartis.com/sites/www.novartis.com/files/alcon-20f-filing ....

Shares in Alcon Inc. are expected to be listed and traded from April 9, 2019 on the SIX and the NYSE under the ticker symbol "ALC". Alcon will also be included in both the Swiss Market Index (SMI) and Swiss Performance Index (SPI) from the first day of trading, as recently announced by the SIX.

Alcon has secured debt financing of USD 3.5 billion through a group of banks. The Alcon credit rating will be investment grade following the spin-off. Moody's Investor Service and S&P Global Ratings have rated Alcon at Baa2 and BBB, respectively, with a stable outlook.