(Bloomberg) — Altria Group Inc. made dramatic efforts to distance itself from the legal troubles of Juul, as it wrote down the value of its stake in the vaping company to about a third of what it initially paid.Altria also said in a statement it has changed the terms of its minority investment in the company, including stopping all services other than regulatory affairs and said that it has an option to be released from its non-compete obligation in some circumstances. Altria valued its Juul stake at $4.2 billion at the end of 2019, after paying $12.8 billion in Dec. …read more
Source:: Yahoo Finance
