- Marlboro maker Altria has swapped its minority stake in Juul Labs for intellectual property rights to some of the e-cigarette company’s heated tobacco prototypes.
- Altria's investment has plummeted in value from $12.8bn to just $250mn following regulatory and legal setbacks.
- Altria is looking to buy e-cigarette company NJOY for $2.75bn.
- Juul is looking for a possible investment, sale or licensing agreement from tobacco companies.
- Altria being out of the picture gives Juul 'full strategic freedom' over the future of the company.
Altria exits vaping group Juul after stake plummets in value
Marlboro maker’s $12.8bn investment is now worth just $250mn after legal setbacks
Oliver Barnes
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