BAT buys cigarette brands from Bulgaria's Bulgartabac

Bulgartabac Holding AD

12/04/2017 08:31

SOFIA, April 12 (Reuters) - British American Tobacco (BAT) 
 BATS.L  said on Wednesday it had agreed with Bulgarian 
cigarette maker Bulgartabac to acquire some of its leading 
cigarette brands in a deal worth more than 100 million euros 
($106 million). 
    BAT said the acquisition of the Victory, Eva Slim and GD 
brands would help expand its market share in Bulgaria to 40 
percent from 12 percent and said the deal would also include 
retail and distribution assets in the country and in Bosnia. 
    The deal is subject of anti-trust approvals and is expected 
to be concluded by the end of June this year, the company said 
in a statement. 
    ($1 = 0.9420 euros) 
 
 (Reporting by Tsvetelia Tsolova; Editing by David Holmes) 
 ((tsvetelia.tsolova@thomsonreuters.com; +359-2-93-99-731;)) 
 
Keywords: BULGARIA TOBACCO/BAT