British American Tobacco to Sell Shares in ITC Hotels

Dow Jones12-04 22:41

By Joe Stonor

British American Tobacco said it plans to sell up to 100% of its stake in ITC Hotels via an accelerated bookbuild process, as it is not a strategic holding for the group.

The U.K. tobacco group--which makes the Kent and Lucky Strike brands--said Thursday that it is planning to sell between 7% and 15.3% of ITC Hotel's issued shares.

Mumbai-listed ITC has a market capitalization of $4.8 billion, implying BAT's stake is worth up to $734.40 million.

"The proceeds from this transaction will further support continued progress towards our stated 2026 leverage corridor," BAT Chief Executive Tadeu Marroco said.

BAT shares were up 2 pence, or 0.05%, at 43.44 pounds in early afternoon European trading. They are currently up 51% over the year to date.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

December 04, 2025 09:41 ET (14:41 GMT)

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