Marlboro firm sells $2.2bn stake in Bud Light owner - BBC News

Bud Light sales were hit after a US boycott over its work with transgender influencer Dylan Mulvaney.

9 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Peter HoskinsBusiness reporterThe maker of Marlboro cigarettes, Altria Group, says it will sell more than $2.2bn (£1.7bn) of shares in AB InBev, the owner of the Bud Light and Stella Artois beer brands.

The move will see Altria offloading 35 million AB InBev shares.

The tobacco giant currently owns a stake of around 10% in the world's biggest brewer, worth about $12.7bn.

Bud Light sales have been hit after a US boycott over its work with transgender influencer Dylan Mulvaney.

The sale is "an opportunistic transaction that realises a portion of the substantial return on our long-term investment," Altria's chief executive, Billy Gifford, said in a statement.

https://www.bbc.co.uk/news/business-68561614

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