Marlboro maker to cover $2.4B for a 45per cent stake in Cronos Group

CannabizDaily reported week that is last Altria Group, Inc., the manufacturer of popular smoking brand name Marlboro, is with in talks with Canadian cannabis business Cronos Group regarding a takeover.

The two organizations have actually since finalized an understanding.

The Cronos-Altria contract

The Virginia-based tobacco business is going for a 45 % into the medical and leisure cannabis producer for a preliminary $2.4 billion, Cronos established on Friday.

Worldwide CBD Exchange

Altria may also spend $1.4 billion for warrants, which, if exercised, would provide it a 55 % ownership stake in Cronos. Continue reading