Altria reaches $2.7 billion deal with Philip Morris to sell U.S. IQOS rights
2022.10.19 20:12
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© Reuters. FILE PHOTO: A woman poses with a cigarette in front of Philip Morris International logo in this illustration taken July 26, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Altria Group Inc said on Wednesday its unit has reached a $2.7 billion deal with Marlboro maker Philip Morris International Inc (NYSE:)’s unit to sell the U.S. commercialization rights for its IQOS heated tobacco products.
Altria (NYSE:) has received a $1 billion payment from Philip Morris and will receive an additional payment of $1.7 billion by July 2023 for a total payment of about $2.7 billion pre-tax, according to the statement.
Separately, the Wall Street Journal reported on Wednesday that Philip Morris is planning to raise its offer for Swedish Match AB, citing people familiar with the matter.
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