BRIEF-BAT says to maintain 42 pct of enlarged Reynolds American

July 15 Tue Jul 15, 2014 7:17am EDT

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July 15 (Reuters) - British American Tobacco Plc :

* BAT to maintain 42 pct of enlarged Reynolds American

* To invest $4.7 billion as part of Reynolds American's proposed acquisition of Lorillard

* British American Tobacco to maintain its 42 pct shareholding in enlarged Reynolds American

* BAT will be suspending its 1.5 billion pounds share buyback programme with effect from 30 July 2014

* Transaction, which is anticipated to be completed in first half of 2015, is expected to be mildly accretive for BAT

* BAT will be subscribing for new shares in Reynolds American with funding from existing resources and debt Source text for Eikon: Further company coverage:

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