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'British American Tobacco Said Preparing To Launch ITC Selldown As Soon As This Week' - Bloomberg News

Author: Benzinga Newsdesk | March 11, 2024 11:55am

https://www.bloomberg.com/news/articles/2024-03-11/bat-said-preparing-to-launch-itc-selldown-as-soon-as-this-week?utm_content=business&utm_medium=social&utm_source=twitter&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic

British American Tobacco Plc, the maker of Lucky Strike cigarettes, is preparing to kick off a sale of part of its stake in Indian partner ITC Ltd. as soon as this week, people with knowledge of the matter said.

London-listed BAT has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC stock through block trades, the people said.


 

Posted In: BTI


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