Stock market quotes, forex, financial news, forex tools –

Altria is going to invest in production of medical marijuana

 Breaking News
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....
Altria is going to invest in production of medical marijuana
December 10
13:00 2018

Altria is going to invest in Cronos. A Canadian Cronos specializes in the cultivation and production of medical marijuana. It became known about the amount of the planned investment, it is about 1.8 billion US dollars.

After investing, Altria will receive 45% of Cronos. The deal will close at the beginning of next year. In the case of re-investments of about $ 1 billion, the share of Altria will increase to 55%.

Cronos will partner with Altria in the fast-growing market. Cronos says that the investment will help the company get new resources and start creating new products.

An American company Altria is one of the largest tobacco manufacturers in the world. Last year, the company’s revenue was equal to $ 25.5 billion.

Last summer, it was allowed the smoke pot in Canada. Free sales started in mid-October.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles

1 Comment

  1. DanielCIB
    DanielCIB December 14, 19:19

    Hello. And Bye.

    Reply to this comment

Write a Comment