Article Date 06/11/2018

Image from : L'Actualité Alimentaire

Constellation Brands completes $4bn investment in Canopy Growth

Source Drinks Insight Network

US-based alcohol beverage firm Constellation Brands has completed the C$5bn ($4bn) investment in Canadian cannabis company Canopy Growth.

The deal has been approved by Canopy Growth shareholders and also received regulatory approvals from the Canadian government under the Investment Canada Act

Constellation Brands CEO Rob Sands said: “We’re excited to expand our strategic partnership with Canopy Growth and to begin helping them build the global scale needed to win long-term.

The deal which was announced in August this year, where Constellation Brands announced its plans to increase its stake in Canopy Growth by acquiring 104.5 million shares directly from the company.

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