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Altria Suspends AB InBev Shares After $2.2B Stake Sale Plan

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Source: Yahoo Finance
Altria Suspends AB InBev Shares After $2.2B Stake Sale Plan
Photo: Yahoo Finance
TL;DR

Shares of AB InBev were suspended from trading at the request of Belgium's FSMA after news that Altria, the tobacco giant, plans to sell around 35 million shares, or a fifth of its stake, in the world's top beer maker. AB InBev intends to buy back $200 million worth of shares, and its CEO stated that the move is consistent with the company's strategy. Analysts believe the sale will have minimal longer-term significance for AB InBev, and Altria aims to use the proceeds to fund additional buybacks of its own stock.

Topics:businessbusinessfinance#ab-inbev#altria#belgium#businessfinance#stake-sale#stock-market
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  1. Shares in brewer AB InBev suspended after Altria stake sale plan  Yahoo Finance
  2. Altria Group Plans to Sell Part of Anheuser-Busch Stake  The Wall Street Journal
  3. Marlboro maker to sell $2.3 billion worth of Bud Light maker’s stock  MarketWatch
  4. Altria (NYSE:MO) Plans to Sell $2.2B Worth of BUD Shares - TipRanks.com  TipRanks
  5. Altria plans to reduce investment in Corona-maker AB InBev (NYSE:MO)  Seeking Alpha

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