04:51 PM EDT, 03/13/2024 (MT Newswires) -- Altria Group ( MO ) said Wednesday it plans to sell part of its investment in Anheuser-Busch Inbev ( BUD ) through a global secondary offering.

Altria ( MO ) currently holds approximately 197 million shares of ABI, representing about a 10% stake.

The offering will include separate public offerings for Anheuser-Busch's American depositary shares and ordinary shares in the US, a concurrent private placement of its shares in the European Economic Area and the UK, and an offering of shares in other countries outside the US, according to Altria ( MO ).

Altria ( MO ) said Anheuser-Busch agreed to buy back $200 million of ordinary shares directly from the group.

The board approved the offering and proceeds from the partial stake sale will be used for additional share repurchases, Altria ( MO ) added.

Anheuser-Busch did not immediately respond to MT Newswires' request for comment.

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