The details of Altria’s investment are still being finalized though it has expressed interest in buying a minority stake in Aphria with the intention of eventually holding a majority, the report said.
Several consumer companies are looking to strike deals with Canada’s cannabis companies as sales of recreational marijuana is legalized in the G-7 country, starting Oct. 17.
Altria and Aphria were not immediately available for comment.
Reporting by Debroop Roy in Bengaluru
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