Japan Tobacco Inc (2914.T)
Thu, Jan 18 2018
** Imperial Brands shares down 2.6 percent on Thursday, touching their lowest level since August 2015
TOKYO Japan Tobacco Inc , which is on the hunt for overseas acquisitions to offset a shrinking home market, is working on several possible deals as it targets growth in Asian and other emerging markets, its new chief executive said on Wednesday.
* Says it is in deal to acquire 30.95 percent stake in an Ethiopia-based tobacco firm National Tobacco Enterprise Share Company (NET), for $434.1 million, on Dec. 21
* TO ACQUIRE ADDITIONAL 30 PERCENT STAKE IN ETHIOPIA'S NATIONAL TOBACCO ENTERPRISE SHARE COMPANY FOR 434 MILLION DOLLARS FROM ETHIOPIAN GOVERNMENT
* GROUP'S MAXIMUM CREDIT EXPOSURE TO PALMER & HARVEY IS 148 MILLION POUNDS
* JAPAN TOBACCO INTERNATIONAL SAYS HAS "WORKED CONTINUOUSLY" TO FACILITATE A CONSTRUCTIVE SOLUTION TO PALMER & HARVEY'S CHALLENGES INCLUDING EXTENDING SIGNIFICANT FINANCIAL AND OPERATIONAL SUPPORT
TOKYO/LONDON Japan Tobacco Inc sparked takeover speculation on Tuesday by naming a new chief executive who wants the world's third-largest international tobacco maker to do more overseas acquisitions to offset falling cigarette sales at home.
* Imperial Brands up as much as 4 pct on deal talk (Adds context, bullet points; Changes headline)
TOKYO, Nov 21 Japan Tobacco Inc will seek acquisition opportunities overseas, said Masamichi Terabatake who is slated to become its CEO in January, to secure growth as the rise of vaping rivals snuffs out the company's cigarette sales at home.
TOKYO Japan Tobacco Inc said it expected a steeper decline in cigarette sales at home than previously estimated, after earlier reporting disappointing results, as more smokers quit or defect to "heat-not-burn" tobacco products.