PM Investments ups Medicago holding

Philip Morris International said yesterday that its affiliate, Philip Morris Investments, had acquired 11,348,266 common shares of Medicago for C$13,163,989.

Following this transaction, PM Investments holds 109,957,066 common shares in Medicago, representing 40 percent of all of the issued and outstanding common shares of Medicago.

The other 164,935,599 common shares of Medicago, representing 60 percent of the total, are owned by Mitsubishi Tanabe Pharma Corporation and one of its subsidiaries.

PM Investments’ most recent acquisition of Medicago shares was said to have been made for investment purposes.