Marlboro Firm Sells $2.2 Billion Stake In Bud Light Owner

Altria Group, the maker of Marlboro cigarettes, announced its intention to sell over $2.2 billion (£1.7 billion) worth of shares in AB InBev, the parent company of Bud Light and Stella Artois beer brands, Peter Hoskins reported the transaction for BBC News.

AB InBev is the parent company of Bud Light and Stella Artois beer brands. I Photo: Stella Artois Facebook

Altria currently holds approximately 10% stake in AB InBev, valued at about $12.7 billion. The decision to sell 35 million AB InBev shares reflects Altria's strategy to realize returns on its long-term investment.

Altria's CEO, Billy Gifford, described the sale as an "opportunistic transaction," demonstrating confidence in AB InBev's long-term strategies and premium global brands. AB InBev confirmed it would repurchase $200 million of its shares from Altria.

Despite challenges such as declining Bud Light sales in the US, AB InBev reported strong global revenue growth in 2023, contributing to profits exceeding $6.1 billion.

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