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British American Tobacco looks to raise $2.5 billion by trimming 4% stake in ITC, ropes in Wall St banks

BAT has 29.03% holding in the cigarette-to-chips conglomerate, as per December 2023 disclosures. Based on Mondays closing price, BATs shareholding is valued at Rs 1.47 lakh crore ($17.75 billion). ITCs total market capitalisation amounted to Rs 5.07 lakh crore ($61.17 billion). BAT sells cigarettes under brands such as Dunhill, Kent and Lucky Strike. The value unlocking could potentially help it prune leverage and resume a share buyback programme to enhance shareholder value. It launched the 2 billion buyback in 2022, but didnt renew it last year. ....

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British American Tobacco looks to raise $2.5 billion by trimming 4% stake in ITC, ropes in Wall St banks, ET Retail

British American Tobacco: BAT has 29.03% holding in the cigarette-to-chips conglomerate, as per December 2023 disclosures. Based on Monday’s closing price, BAT’s shareholding is valued at Rs 1.47 lakh crore ($17.75 billion). ITC’s total market capitalisation amounted to Rs 5.07 lakh crore ($61.17 billion). BAT sells cigarettes under brands such as Dunhill, Kent and Lucky Strike. The value unlocking could potentially help it prune leverage and resume a share buyback programme to enhance shareholder value. It launched the 2 billion buyback in 2022, but didn’t renew it last year. ....

United Kingdom , United States , Tadeu Marroco , Vivek Maheshwari Kunal Shah , Sunil Panray , Philip Morris , David Robert Simpson , Long Association , Foreign Exchange Management Act Fema , British American Tobacco , Wall Street , Reserve Bank , Sanjiv Puri , Foreign Exchange Management Act , Robert Simpson , Tobacco Manufacturers , Vivek Maheshwari , Kunal Shah , Largest Shareholder , Wall St Banks , Shareholder Value , Reserve Bank Of India , Tadeu Marroco ,

ITC: ITC director David Robert Simpson resigns - The Economic Times

David Robert Simpson was on the ITC board as a representative of Tobacco Manufacturers (India) Ltd, a subsidiary of British American Tobacco plc. ....

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ITC director David Robert Simpson resigns

David Robert Simpson was on ITC board as a representative of Tobacco Manufacturers (India) Ltd, a subsidiary of British American Tobacco plc. ....

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ITC Non-Executive Director David Robert Simpson resigns

His resignation will be effective from January 30 ....

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