Altria Group plans to sell 35 million AB InBev shares
Reuters
Published Mar 13, 2024 20:43
Updated Mar 13, 2024 21:36
(Reuters) -Marlboro maker Altria (NYSE:MO) said on Wednesday it plans to sell 35 million shares of brewer Anheuser-Busch InBev.
Altria currently holds about 197 million shares of AB InBev, representing approximately 10% ownership.
As of last close, the share sale is worth $2.26 billion, according to Reuters calculations.
Altria plans to sell some of AB InBev's American depositary shares in the United States, as well as a private placement for the brewer's ordinary shares in the European Economic Area and the United Kingdom, the tobacco giant said.
AB InBev has agreed to repurchase $200 million of ordinary shares directly from Altria upon completion of the offering.
AB InBev's U.S.-listed shares were down 3.6% at $63.26 in extended trading.
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Written By: Reuters
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