British American Tobacco PLC BAT Completes Acquisition of TDR
September 30 2015 - 9:45AM
Dow Jones News
TIDMBATS
RNS Number : 7435A
British American Tobacco PLC
30 September 2015
Wednesday 30 September 2015
BRITISH AMERICAN TOBACCO COMPLETES ACQUISITION OF TDR
British American Tobacco expands its business in Central Europe
by completing its acquisition of TDR in Croatia
British American Tobacco (BAT) has completed its previously
announced acquisition of TDR d.o.o. and other tobacco and retail
assets (TDR) from Adris Grupa d.d. (Adris) for a total enterprise
value of EUR550 million.
TDR is the leading independent cigarette manufacturer in Central
Europe with a market leading position in Croatia and a position of
scale in Bosnia and Serbia which will provide BAT with the
opportunity to significantly grow its business in the region.
Naresh Sethi, BAT's Director Western Europe, commented: "I am
delighted that we have now closed this complex deal. This is an
exciting acquisition for BAT. It provides immediate scale in three
core markets of Croatia, Bosnia and Serbia and establishes a
sustainable platform to grow our business across Central
Europe".
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NOTES TO EDITORS
BAT is a global tobacco Group with brands sold in more than 200
markets. It employs more than 57,000 people worldwide and has over
200 brands in its portfolio, with its cigarettes chosen by one in
eight of the world's one billion smokers. BAT has leadership in
more than 60 markets around the world. The Group generated GBP5.4
billion adjusted profit from operations in 2014.
BAT was advised by EY, Baker & McKenzie and Wolf Theiss in
relation to the transaction.
This information is provided by RNS
The company news service from the London Stock Exchange
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September 30, 2015 09:30 ET (13:30 GMT)
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