October 31, 2019 / 11:15 AM / 7 months ago

Altria takes $4.5 bln charge on Juul investment

Oct 31 (Reuters) - Altria Inc said on Thursday it recorded a $4.5 billion charge in the third quarter related to its investment in Juul Labs Inc, months after taking a $12.8 billion stake in the e-cigarette maker.

The company said the increased likelihood of U.S. Food & Drug Administration removing flavored e-vapor products from the market as well as bans in certain cities and states in the United States were responsible for the charge.

Altria posted a loss for the third quarter due to the charge. (Reporting by Nivedita Balu in Bengaluru Editing by Saumyadeb Chakrabarty)

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