- 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.
Financial Times — World — Vaping — Regulation — Investment — Legal
Altria exits vaping group Juul after stake plummets in value
Marlboro maker Altria has ended its minority stake in Juul Labs after its $12.8bn investment plummeted in value to $250mn. Altria is now looking to buy e-cigarette company NJOY for $2.75bn.