Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Stock Traders Daily
$20.00
Provider: New Constructs, LLC
$25.00
Provider: ValuEngine, Inc.
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Philip Morris International Inc Enters Into Agreement To Acquire 49% Interest In Arab Investors-TA (FZC)


Monday, 30 Sep 2013 08:20am EDT 

Philip Morris International Inc announced its entry into a definitive agreement to acquire 49% of the shares of United Arab Emirates-based Arab Investors-TA (FZC) for $625 million. Through its acquisition of 49% of the shares of AITA, PMI will secure an almost 25% economic interest in the Société des Tabacs Algéro-Emiratie, a joint venture which is 51% owned by AITA and 49% by the Algerian state-owned Société Nationale des Tabacs et Allumettes SpA. STAEM, with which PMI has had a partnership since 2005, manufactures and distributes under license PMI’s Marlboro and L&M brands, which together hold a share of the international trademarks sold in Algeria. This equity investment in AITA will provide PMI with enhanced earnings from Algeria and is projected to be accretive to PMI’s earnings per share as of 2014. 

Company Quote

86.6
0.3 +0.35%
26 Nov 2014