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British American Tobacco Sells 9% of ITC Hotels Stock for $419.8 Million

Provided by Dow Jones Dec 5, 2025, 8:06:00 AM

By Joe Stonor

British American Tobacco said it sold 9% of ITC Hotels' stock for $419.8 million, the lower end of the range set on Thursday.

The U.K. tobacco group--which makes the Kent and Lucky Strike brands--said Friday that it sold 187.5 million shares in Mumbai-listed ITC through an accelerated bookbuild process. Proceeds from the sale would go toward reaching debt-to-earnings targets, the company added.

On Thursday BAT said it planned to sell between 7% and 15.3% of ITC Hotels' issued shares.

BAT retains around a 6.3% stake in ITC after the sale, which it holds through subsidiaries.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

December 05, 2025 03:06 ET (08:06 GMT)

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