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BAT buys stake in cannabis company

The group is seeking ways to diversify beyond its main tobacco business
BAT buys stake in cannabis company
  • £126m investment for 19.9 per cent stake in Canada-based Organigram
  • Deal reflects the group's ongoing expansion into ‘reduced risk alternatives’

British American Tobacco (BATS) is pushing further into the cannabis market, announcing a £126m investment and strategic collaboration with Organigram (CA:OGI). The tobacco giant will take a 19.9 per cent stake in the Canadian company – becoming its largest shareholder – and appoint two directors to its board.

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