Altria writes down Juul investment by $4.5 billion

Altria writes down Juul investment by $4.5 billion

Tobacco giant Altria said Thursday that is lowering the value of its 35 per cent stake in Juul Labs by $4.5 billion. Altria cited the growing risk that the US FDA would ban flavored vaping products in the decision to cut Juul’s valuation. This comes less than a year after Altria bet big on Juul when it spent almost $13 billion to buy its stake.

Timothy
Timothy
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