Marlboro manufacturer to pay for $2.4B for a 45per cent stake in Cronos Group

Marlboro manufacturer to pay for $2.4B for a 45per cent stake in Cronos Group

CannabizDaily reported the other day that Altria Group, Inc., the manufacturer of popular tobacco cigarette brand Marlboro, is with in talks with Canadian cannabis company Cronos Group regarding a takeover.

The two businesses have since finalized an understanding.

The Cronos-Altria contract

The Virginia-based tobacco company is using a 45 per cent within the medical and cannabis that are recreational for a preliminary $2.4 billion, Cronos established on Friday.

Worldwide CBD Exchange

Altria may also spend $1.4 billion for warrants, which, if exercised, would provide it a 55 % ownership stake in Cronos.

Additionally within the contract, Altria could have the proper to nominate four directors to Cronos’ board. This also means that the Cronos board, which presently has five people, may be expanded to add seven members. Continue reading “Marlboro manufacturer to pay for $2.4B for a 45per cent stake in Cronos Group”