Juul in deal talks with three tobacco giants - WSJ (updated)

JAPAN TOBACCO

25/01/2023 19:36

(Adds details from the report and background)
       Jan 25 (Reuters) - E-cigarette maker Juul Labs Inc is in
early talks with three tobacco giants for a potential sale,
strategic investment, licensing or distribution deal, the Wall
Street Journal reported on Wednesday, citing people familiar
with the matter. 
    The company, which was reportedly looking to file for
Chapter 11 bankruptcy, have had separate discussions with Philip
Morris International Inc  PM.N , Japan Tobacco Group  2914.T 
and Altria Group Inc  MO.N , the report said.
    Juul, partly owned by Marlboro maker Altria, did not
immediately respond to a Reuters request for comment. 
    In late September, Altria exercised the option to be
released from its non-compete deal with the Juul almost four
years after buying a 35% stake in the company.
    A deal is not imminent and the discussions may not result in
a sale or partnership, the people told the Journal on Wednesday.
    Last week, Juul secured preliminary court approval of a $255
million settlement resolving claims by consumers that it
deceptively marketed e-cigarettes.
 (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Sriraj Kalluvila)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;))