Altria Group plans to sell wine business for 1.2 billion dollars

By: Trademagazin Date: 2021. 08. 26. 15:09

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Altria Group Inc wants to sell its Ste. Michelle Wine Estates business to private equity firm Sycamore Partners for USD 1.2 billion, because the tobacco company seeks to concentrate its business on cigarette alternatives for smokers. The deal is expected to be completed in the second half of 2021.