The cigarette producer has announced a second impairment charge in three months to a $12.8bn investment now valued at only $4.2bn.
Tobacco product manufacturer Altria has booked a $4.1bn writedown on the $12.8bn investment it made in US-based e-cigarette brand Juul in late 2018, according to a Q4 2019 earnings report released yesterday.
The announcement follows a similar disclosure in Altria’s last financial report in October 2019 which stated it expected to write down $4.5bn from the investment, indicating that the stake is now valued at $4.2bn just over a year after the deal.
Juul sells battery-powered vaporisers that deliver…
