Constellation Invests CA$5 Billion In Cannabis Giant Canopy

Global liquor giant Constellation Brands plans to significant increase its ownership in Canopy Growth by investing an industry-record 5stock Canadian dollars ($3.8 billion) to make the marijuana titan its exclusive global MJ partner.

Constellation will acquire 104.5 million shares directly from Canopy Growth for CA$48.60 per share, giving the New York-based company – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert Mondavi – 38% ownership after existing warrants Are exercised.

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