Altria Plans $2 Billion Sale of Beer Shares
TL;DR
Altria plans to sell $2.3 billion worth of its stake in Anheuser-Busch InBev to buy back its own stock, with the option to sell an additional 5.25 million shares. The move reflects confidence in ABI's long-term strategies, global brands, and management team. AB InBev will buy $200 million of the stock Altria is selling, and analysts believe the brewer's deleverage plans will allow for more stock buybacks in the future. Anheuser-Busch InBev's U.S. business has been impacted by declining Bud Light sales, but its global business remains unaffected. Altria stock rose 1% following the announcement.
- Marlboro maker to sell $2.3 billion worth of Bud Light maker’s stock MarketWatch
- Altria Raises $2.4 Billion From AB InBev Shares, Plans Buyback Yahoo Finance
- Bud Stock Drops. A Major Shareholder Is Selling Down Its Stake. Barron's
- Altria will sell $2 billion of its stake in Anheuser-Busch Quartz
- Tobacco giant Altria to sell some beer shares Richmond Times-Dispatch
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