Marlboro maker sells $2.2bn stake in Budweiser owner

Marlboro cigarettes owner Altria Group Inc (NYSE:MO, ETR:PHM7) has unveiled plans to sell a US$2.2 billion stake in Budweiser brewer Anheuser-Busch InBev (NYSE:BUD). Dubbing the transaction “opportunistic”, Altria said 35 million shares in the brewing giant would be sold to fund its own future buybacks. This is of the 197 million shares held by Altria, equating to a 10% ownership stake in AB InBev. “We believe this is an opportunistic transaction that realises a portion of the substantial return on our long ...