Court mediator proposes $23.6 bln settlement by Philip Morris, BAT and JTI units in Canada

JAPAN TOBACCO

18/10/2024 09:35

Oct 18 (Reuters) - Philip Morris  PM.N  said on Friday
that a Canadian court-appointed mediator has proposed a plan to
end the tobacco litigation, involving a payment of C$32.5
billion ($23.56 billion) by its unit Rothmans, Benson & Hedges
Inc and the Canadian units of British American Tobacco  BATS.L 
and Japan Tobacco  2914.T .
    Philip Morris said the allocation of the aggregate
settlement amount between the companies in the proceedings
remained unresolved.

($1 = 1.3792 Canadian dollars)

 (Reporting by Shubham Kalia in Bengaluru; Editing by Mrigank
Dhaniwala)
 ((Shubham.Kalia@thomsonreuters.com;))