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Morgan Stanley and UBS head Sanofi-Aventis share sale

Morgan Stanley and UBS are leading a €2.2bn ($2.6bn) sale of shares in Sanofi-Aventis, the Franco-German pharmaceutical company, just months after their involvement in the politically sensitive takeover battle that formed the company.

The two banks are joint bookrunners of the sale of 38 million Sanofi-Aventis shares by the Kuwait Petroleum Company. Sanofi-Aventis shares were trading at €56.97 on Tuesday at 10:29 GMT on Tuesday, 2.2% lower than the closing price on Monday when the deal launched.

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