Business

BAT Takes $31.5 Billion Charge on U.S. Cigarette Brands – InfowayTechnologies

Updated Dec. 6, 2023 1:54 pm ET

British American Tobacco is booking a $31.5 billion charge to slash the value of its U.S. cigarette business, one of the biggest corporate write-offs in recent history.

The accounting charge, largely stemming from its 2017 takeover of the U.S. maker of Newports and Camels, falls short of the value erased by the failed merger of AOL and Time Warner.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button