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HomeMarket NewsBAT confirms it is evaluating partial stake sale in ITC
The company said any disposal, if pursued, would be conducted via an on-market trade. However, BAT cautioned that no final decision has been made, and there is no certainty that a transaction will proceed or what the terms might be.
By CNBCTV18May 27, 2025, 8:06:48 PM IST (Published)
British American Tobacco p.l.c. (BAT) on Tuesday confirmed that it is evaluating a potential sale of a small portion of its stake in India’s ITC Limited, following recent market speculation.
The company said any disposal, if pursued, would be conducted via an on-market trade. However, BAT cautioned that no final decision has been made, and there is no certainty that a transaction will proceed or what the terms might be.
“A further announcement will be made if and when appropriate,” BAT said in a statement released by Company Secretary Caroline Ferland.
The statement added that the announcement contains inside information under Article 7 of the Market Abuse Regulation.
BAT holds a significant shareholding in ITC Limited, one of India's largest diversified conglomerates, and any move to offload a part of its stake could have material implications for both companies and the Indian market.
The company reiterated that any securities involved in the potential transaction have not been, and will not be, registered under the US Securities Act of 1933, and cannot be offered or sold in the United States without appropriate registration or exemption.
