“Altria Inc took another $4 billion charge on its investment in Juul Labs Inc and said it had reworked its deal terms with the embattled e-cigarette maker, which is facing increased regulatory scrutiny amid a backlash against vaping. Altria said it would stop providing services including logistics, distribution and access to retail shelf space to Juul, while also outlining a plan to reshuffle the company’s board once regulators complete the anti-trust probe related to the deal. It will only help Juul with regulatory affairs services including the submission of its products for approval by the U.S. Food and Drug Administration, the company added.”
ARTICLE LINK:
Altria takes $4.1 billion charge on Juul investment, revises deal terms
Store
