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4 months ago
BAT buys cigarette brands from Bulgaria's Bulgartabac
April 12, 2017 / 7:35 AM / 4 months ago

BAT buys cigarette brands from Bulgaria's Bulgartabac

SOFIA, April 12 (Reuters) - British American Tobacco (BAT) 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

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