Business > World

Marlboro maker places $2.4 billion bet on marijuana

11 days ago   |   By National Post

NEW YORK - One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in.
Marlboro maker Altria Group Inc. is taking a 45 per cent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday.
Altria will pay another $1.4 billion for warrants that if exercised, would give the Altria a 55 per cent ownership stake in the Toronto company.
That would mean Altria's investment would be in the same league as the $4 billion spent earlier this year by Constellation Brands to acquire shares of Canopy Growth Corp., another...
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Marlboro cigarette maker places a $2.4-billion bet on marijuana

11 days ago   |   By Los Angeles Times

Altria Group Inc., one of the world's biggest tobacco companies, is diving into the cannabis market with a $2.4 billion buy-in. The Marlboro cigarette maker is taking a 45% stake in Cronos Group Inc., the Canadian medical and recreational marijuana provider said Friday. Altria will pay an additional...
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Marlboro-maker Altria officially enters the marijuana business

Marlboro-maker Altria officially enters the marijuana business

11 days ago   |   By New York Post

One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company. Altria, parent company of Philip Morris, which makes Marlboro cigarettes, is taking a 45 percent stake in the Toronto company. Cronos said Friday that the Richmond, Va.,...
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Marlboro maker leaps into the cannabis trade with $2.4B

11 days ago   |   By Boston Herald

NEW YORK - One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company.
Altria, which makes Marlboro cigarettes, is taking a 45 percent stake in the Toronto company.
Cronos said Friday that the Richmond, Virginia, tobacco company will pay another $1.4 billion for warrants that if exercised, would give the Altria a 55 percent majority ownership stake.
Cronos first announced that it was in talks with Altria this week.
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Marlboro maker leaps into the cannabis trade with $2.4B

11 days ago   |   By Star Tribune


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Marlboro maker leaps into the cannabis trade with $2.4B

11 days ago   |   By Miami Herald

One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company. Altria, which...
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