Reported 3 days ago
British American Tobacco has sold a $1.5 billion stake in India's ITC, comprising 313 million shares at 413 rupees each, exceeding its initial plan. The sale, conducted through a block deal, resulted in a slight discount from ITC's closing price and caused the shares to drop nearly 3%. Despite this, BAT will remain the largest shareholder in ITC and plans to enhance its share buyback program following the deal.
Source: YAHOO