EC approves Acquisition of ST

RNS Number : 7597X

British American Tobacco PLC

27 June 2008

 



For immediate release:  Friday, 27June, 2008 

European Commission approves acquisition

of Skandinavisk Tobakskompagni businesses

The European Commission today announced its decision to approve British American Tobacco's acquisition of the cigarette businesses of Skandinavisk Tobakskompagni A/S (ST) and certain of its snus and roll-your-own tobacco interests.  

Approval has been given by the European Commission on the condition that British American Tobacco agrees to divest a small number of local brands, primarily in Norway. 

The sale of these brands should not materially affect the financial or operational performance of the enlarged British American Tobacco Group post completion of the transaction. 

On 28 February this year, British American Tobacco announced it had agreed to exchange its existing 32.35 per cent stake in ST and pay a balancing sum in cash for 100 per cent of the cigarette business of ST and certain of its snus and roll-your-own tobacco interests. 

As completion was subject only to approval by the European Commission, British American Tobacco now expects the acquisition to complete shortly. A further announcement will follow in due course.  

Enquiries

British American Tobacco Press Office

David Betteridge / Kate Matrunola / Cat Armstrong

+ (44) 0 20 7845 2888 (24 hours)

Investor Relations

Ralph Edmondson / Sharon Woodcock

[phone] / 1519

Skandinavisk Tobakskompagni A/S

Jørgen Tandrup, Supervisory Board Chairman

[phone]

 

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