Altria to claim $483 mln capital loss on cannabis company ownership stake

Altria Group Inc. said Monday it will continue to evaluate prospects of cannabis company Cronos Group Inc. on whether it will acquire additional common shares of Cronos or dispose of them in the open market, in privately negotiated transactions with Cronos or third parties. Altria expects to claim a capital loss of $483 million on its U.S federal consolidated income tax return for 2022, related to its stake in Cronos Group. Altria continues to own 156.57 million common shares of Cronos.

on whether it will acquire additional common shares of Cronos or dispose of them in the open market, in privately negotiated transactions with Cronos or third parties. Altria expects to claim a capital loss of $483 million on its U.S federal consolidated income tax return for 2022, related to its stake in Cronos Group. Altria continues to own 156.57 million common shares of Cronos. The tobacco giant said it notified Cronos Group Inc.

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