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British American Tobacco sells 9% ITC Hotels stake for $425 million

British American Tobacco sells 9% ITC Hotels stake for $425 million

FILE PHOTO: The headquarters of British American Tobacco is seen in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo

British American Tobacco has completed the sale of a 9% stake in ITC Hotels for 38.2 billion rupees ($424.70 million), the tobacco giant said on Friday.

Following completion of the sale, it now holds about 6.3% in ITC Hotels, BAT said.

($1 = 89.9450 Indian rupees)

(Reporting by Ankita Bora and Raechel Thankam Job)

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