British American Tobacco completes sale of its business in Russia and Belarus

A tobacco giant British American Tobacco (BAT) has officially announced the completion of the sale of its Russian and Belarusian businesses.

Source: statement by Brirish American Tobacco 

Quote: "The sale was carried out according to local and international law after obtaining all necessary permissions."

Background:

• Earlier, the British American Tobacco (BAT) reported that it had signed an agreement about selling its Russian and Belarusian businesses.
• The buyer is a consortium headed by BAT management in Russia, which will completely own both enterprises after the deal is completed. These enterprises will then be known as ITMS Group.
• BAT portfolio includes such cigarette brands as Dunhill, Kent, Vogue, Rothmans, Pall Mall, Lucky Strike, as well as tobacco-heating devices Glo and Neo Sticks.

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