Maker of Marlboro cigarettes could invest in cannabis firm

PanARMENIAN.Net - Altria, the maker of Marlboro cigarettes, is in talks with a Canadian cannabis producer over a potential investment in the firm, the BBC reports.

Canada's Cronos Group confirmed the discussions but said it had not yet reached an agreement.

It follows reports that Altria was in talks to acquire Cronos as it moves to diversify from traditional smokers.

Canada legalised recreational cannabis in October - the second country in the world to do so.

Cronos confirmed in a statement "it is engaged in discussions concerning a potential investment by Altria Group Inc. in Cronos Group."

"No agreement has been reached with respect to any such transaction and there can be no assurance such discussions will lead to an investment or other transaction involving the companies."

Several other companies around the world are pushing into the marijuana sector.

Corona beer owner Constellation Brands has said it would pour some $4bn (£3.1bn) into Canada's top cannabis producer, Canopy Growth, in a deal marking the largest investment in the industry to date.