Constellation Brands Lifts Its Stake in Canopy Growth to Nearly 40%
Alcoholic beverage maker Constellation Brands (NYSE: STZ) has boosted its equity holding in Canopy Growth (NYSE: CGC), both companies announced in a joint press release issued on Friday.
This was effected through a set of warrants Constellation received in late 2017, when it first began investing in Canopy Growth. At the time, it purchased a roughly 9.9% stake in the marijuana company, a level that has steadily grown since then. With its latest move, Constellation owns 38.6% of Canopy Growth's issued and outstanding common shares.
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Source Fool.com
