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UNITED STATES

Regulator requests more info from Altria on Juul

09 Apr 2019. The US Federal Trade Commission (FTC) has requested further information and documents from Altria about its investment in Juul Labs, the e-cigarette manufacturer, after the maker of Marlboro requested to convert its non-voting stake in the company to voting shares, Reuters reported.

Altria, the maker of Marlboro cigarettes, purchased a 35 per cent stake in Juul for USD 12.8 billion in December. The FTC is currently investigating the conversion deal to make sure that it does not violate antitrust law.

The voting shares would give Altria the right to recommend directors who would represent a third of Juul’s board. If the proposal is approved, the move is expected to help with the distribution of Juul in convenience stores as well as with the promotion of the products through advertisement in traditional packs of cigarettes, according to the report.