October 10, 2018 / 7:12 PM / 5 days ago

Altria in talks for stake in Cannabis producer Aphria: Globe & Mail

(Reuters) - Marlboro maker Altria Group Inc (MO.N) is in talks for a stake in Canadian cannabis producer Aphria Inc (APH.TO), the Globe and Mail reported on Wednesday, citing multiple sources.

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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