Altria Group plans to sell $2bn worth of Anheuser-Busch InBev stake for share buyback program.

Tobacco giant Altria Group plans to sell over $2bn worth of its stake in Anheuser-Busch InBev (AB InBev), reducing its holdings to about 8.1%. The sale will use proceeds to fund a $2.4bn increase to Altria's share buyback program. Altria's decision to sell AB InBev stock could indicate that management believes the shares are fairly valued and may not return to previous highs anytime soon.

March 14, 2024
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