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