BAT looks to sell between 7-15.3% stake in ITC Hotels

UK-based cigarette major British American Tobacco (BAT) on Thursday said it is looking to sell between 7 per cent and its entire 15.3 per cent stake in hospitality major ITC Hotels via an accelerated bookbuild process. The final number of shares sold will be determined to optimise the overall pricing outcome to BAT.“British American Tobacco p.l.c. announces that its wholly-owned subsidiaries, Tobacco Manufacturers (India), Myddleton Investment Company and Rothmans International Enterprises, intend to sell b ...