Altria Selling $2B+ of AB InBev Stake to Fund Share Buybacks, Diversify Beyond Tobacco
- Altria plans to sell over $2 billion worth of its stake in AB InBev to fund share repurchases
- Altria currently owns about 10% of the beermaker
- AB InBev has agreed to buy back $200 million of shares from Altria
- Altria may use some proceeds to develop its own non-combustible products
- Sale suggests Altria needs cash to accelerate diversification efforts in vaping and oral nicotine
