Altria to Sell Over $2 Billion Worth of AB InBev Shares
Altria Group Inc. plans to sell a portion of its stake in Anheuser-Busch InBev SA for over $2 billion to fund its own share repurchases, with AB InBev also agreeing to repurchase $200 million of shares directly from Altria. The move comes as Altria faces increasing competition in cigarette alternatives and may use the proceeds to develop its own non-combustible products, such as vape and oral nicotine pouches.