Philip Morris to buy out Carlos Slim from Mexican JV for $700 mln

Tue May 21, 2013 9:27am EDT

May 21 (Reuters) - Tobacco company Philip Morris International Inc said it would buy out its Mexican joint venture partner, controlled by billionaire Carlos Slim, for about $700 million.

The Marlboro maker said it expected the deal to marginally add to earnings per share in the fourth quarter.