BAT to Sell Part of ITC Stake, Launch Buyback with Proceeds amid Pressure
- BAT plans to sell up to $2.1B of its stake in Indian company ITC
- BAT will use proceeds to fund a $895M share buyback program through 2025
- Move aimed to return more cash to BAT shareholders amid pressure
- BAT continues to invest in new products like vapes as cigarette sales decline
- Sale will cut BAT's stake in ITC to 29% but allow it to keep board seats
