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Japan Tobacco Inc to take participation in Megapolis Distribution B.V

Wednesday, 4 Dec 2013 07:00am EST 

Japan Tobacco Inc:Says entered into an agreement to acquire a 20 pct stake in Megapolis Distribution B.V., a holding company of CJSC TK Megapolis (Megapolis).Says the acquisition is expected to be completed by Dec. 31.Says Megapolis accounts for 70 pct of Russian cigarette distribution market and the acquisition will strengthen the long term relationship between the company and Megapolis.Says cash consideration for the transaction is $750 million, which excludes an additional component of up to $ 100 million which is subject to Megapolis’ operational performance over the four fiscal years following the closing of this transaction. 

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-60.5 -1.76%
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