BRIEF-Press Release - Altria Reaches Agreement To Sell Its Ste. Michelle Wine Estates Business-To The Moon - Tiger Brokers Online Investing Community

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BRIEF-Press Release - Altria Reaches Agreement To Sell Its Ste. Michelle Wine Estates Business

Reuters2021-07-09

July 9 (Reuters) - Altria Group Inc :

* PRESS RELEASE - ALTRIA REACHES AGREEMENT TO SELL ITS STE. MICHELLE WINE ESTATES BUSINESS

* ALTRIA GROUP INC - ALL-CASH TRANSACTION WITH A PURCHASE PRICE OF APPROXIMATELY $1.2 BILLION

* ALTRIA GROUP INC - ALTRIA EXPECTS TO USE NET CASH PROCEEDS FOR ADDITIONAL SHARE REPURCHASES SUBJECT TO BOARD APPROVAL

* ALTRIA GROUP INC - ENTERED INTO AGREEMENT TO SELL ITS STE. MICHELLE WINE ESTATES BUSINESS TO SYCAMORE PARTNERS MANAGEMENT, L.P

* ALTRIA GROUP INC - DOES NOT EXPECT TO ACCOUNT FOR RESULTS OF STE. MICHELLE AS DISCONTINUED OPERATIONS

* ALTRIA- EXPECTS TO RECORD ANY GAIN OR LOSS ON TRANSACTION & RELATED DISPOSITION ITEMS, WHICH IT DOES NOT ANTICIPATE BEING MATERIAL TO CO, IN H2 OF 2021

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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·2021-07-09
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