Tobacco giant Altria could be looking to sell its stake in Anheuser-Busch after exiting its stake in Juul Labs. Altria currently holds a 9% share of Anheuser-Busch valued at $11 billion.
Altria's stake in Juul was originally valued at $12.8 billion and dropped down to $250 million as of December 31, 2022. The tobacco company will be aiming to offset these losses and one potential source of income would be its stake in ABI (Anheuser-Busch InBev).
New York tax expert Robert Willens noted: "This might be the time for Altria to finally monetize its ABI stake which, in light of the large capital loss it now has at its disposal, can be done on what amounts to a tax-free basis.” [Tip Ranks]
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