British American Tobacco (BAT) has acquired Colombian cigarette maker, Productora Tabacalera de Colombia, for about $452 million, Financial Times reports. The company expects to fund the acquisition through cash from its balance sheets. BAT was advised by investment bank, Rothschild, adds Reuters. Previously, Philip Morris was set to acquire Productora Tabacalera but the deal was cancelled due to antitrust problems.
Click here for the story from Financial Times.
Click here for the additional coverage from Reuters.