Altria Group Plans to Sell 35 Million Shares of AB InBev

Business by 2FIRSTS.ai

Mar.15.2024

Altria Group Plans to Sell 35 Million Shares of AB InBev

Altria Group plans to sell 35 million shares of Anheuser-Busch InBev for $2.26 billion, reducing its stake to 10%.

According to Reuters on March 14th, Altria Group plans to sell 35 million shares of Anheuser-Busch InBev. Altria currently owns approximately 197 million shares of Anheuser-Busch InBev, representing a 10% stake in the company.

On the recent stock market closing day, the total value of this equity sale was $2.26 billion. Anheuser-Busch InBev plans to sell a portion of its American depositary shares of Budweiser in the United States, as well as conduct a private placement in the European Economic Area and the United Kingdom.

Altria Group announced that Anheuser-Busch InBev has agreed to repurchase $2 billion worth of common stock directly from Altria after the equity offering concludes.

Altria Group owns several tobacco brands including Marlboro and the vape company NJOY, while Anheuser-Busch InBev is one of the largest beer producers in the world, headquartered in Belgium. It was formed by the merger of Anheuser-Busch and InBev in 2008. The company operates multiple well-known beer brands such as Budweiser, Corona, Stella Artois, and Hoegaarden. Anheuser-Busch InBev holds a significant market share globally and continues to expand its business operations.

References:

[1] Tobacco firm Altria to sell some AB InBev shares

Also Read:

[1] Altria Applies to FDA for Selling NJOY Fruit Flavors in 100,000 Stores by 2024

[2] Altria Releases Financial Report for Q4 2023 and Full Year, Net Revenue Reaching $24.48 Billion for 2023

[3] Altria Group's Q4 Earnings Impacted by Declining Cigarette Sales

#Europe #Traditional tobacco #Belgium #Major companies

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