Altria Suspends AB InBev Shares After $2.2B Stake Sale Plan
TL;DR Summary
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.
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- Altria plans to reduce investment in Corona-maker AB InBev (NYSE:MO) Seeking Alpha
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