By Rogerio Jelmayer

SAO PAULO--British American Tobacco PLC (BTI) raised its offer to buy the 24.7% stake it doesn't already own in Brazil's cigarette maker Souza Cruz SA (CRUZ3.BR) to 27.62 Brazilian reais ($7.89) per share.

In June, BAT offered to pay BRL26.12 per share. The deal is likely to cost around BRL10.43 billion, reflecting the number shares outstanding.

In March, BAT had announced its intention to buy each Souza Cruz share for BRL26.75, then in June it reduced its offer to BRL26.12.

Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com

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(END) Dow Jones Newswires

August 20, 2015 08:38 ET (12:38 GMT)

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