One of the largest cigarette manufacturers in the world, British American Tobacco (BAT) will acquire a controlling stake in the Danish Skandinavisk Tobakskompagni (ST) for 4.1 billion dollars, reports Bloomberg. Since the end of the deal BAT will be 60 per cent owned by tobacco market in Scandinavia.
As a result, BAT will move to purchase such units ST Prince cigarettes and Fiedler & Lundgren, the largest producer chew tobacco. The main shareholder ST Skandinavisk Holding will retain under its control the production of tobacco for cigars and pipes.
This is the second transaction this month claimed BAT. Before that, the company made a proposal to purchase tobacco Apparently Turkish Tekel. A whole wave of mergers in the tobacco market caused by rising prices for raw materials, as well as excise, leaving the market, only those who can cope with that pressure, the experts say the industry.
British American Tobacco is the second largest producer of tobacco products in the world. BAT Market capitalization at 40 billion dollars. The company produces cigarettes under such brands Dunhill, Kent, Lucky Strike and Pall Mall.
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