Altria Group, the largest manufacturer of tobacco products in the United States, announced its intention to purchase a 45 percent stake in Canadian Cronos Group, which specializes in the cultivation of cannabis for medical purposes, for 2 billion 400 million Canadian dollars, finversia.ru writes. Companies expect to complete the deal in the first quarter of 2019. It is reported that the companies have also agreed that Altria in the future will be able to further invest 1 billion 400 million Canadian dollars and, thus, increase its stake in Cronos to 55%. As noted in Cronos, the company will be able to use the additional financial resources received as a result of the deal to develop new products.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...