The entry into the controversial e-cigarette company Juul is for the US tobacco giant Altria (Marlboro) to debacle. The group said that the value of the investment in its balance sheet has been revised down by $ 4.5 billion (4.0 billion euros).
With the write-off Altria reacts to the crisis of the start-up, which is due to deaths among US adolescents after the consumption of e-cigarettes in the criticism.
Read more about the Juul crisis here
Juul threatens sales bans in the US, US President Donald Trump already announced "very strict" rules. Recently, the company came to the already imposed with self-imposed restrictions. Also in Germany Juul is massively in the criticism. Cartridges for e-cigarettes may no longer be sold.
Altria had paid $ 12.8 billion last December for a 35 percent stake in Juul. The financial strength act was the largest investment in the history of the Marlboro Group.
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Altria wanted to equip itself for the progressive loss of meaning of traditional cigarettes. The company is struggling as the home business shrinks. Juul, on the other hand, grew at times rapidly thanks to novel e-cigarettes, reminiscent of USB sticks and can be inhaled via the flavored, nicotine-containing vapor. Meanwhile, the products are very controversial and the start-up is in crisis
