December 19, 2018 / 6:11 PM / a year ago

Altria nearing deal to take 35 pct stake in Juul - WSJ

Dec 19 (Reuters) - Marlboro cigarette maker Altria Group Inc is nearing a deal to take a 35 percent stake in Juul Labs Inc, an investment that would value the e-cigarette maker at $38 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The report here also said a $12.8 billion cash injection from Altria could be announced as soon as this week.

Reuters had reported last month citing sources that Altria was in talks to take a minority stake of between 20 percent and 40 percent in Juul, as the company’s alternatives to traditional cigarettes surge in popularity.

Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur

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