April 27, 2020 / 9:24 AM / a month ago

Imperial Brands to sell premium cigar business for $1.33 bln

April 27 (Reuters) - Tobacco company Imperial Brands said on Monday it would sell its worldwide premium cigar business for 1.23 billion euros ($1.33 billion) to a consortium of individual investors.

The company will use the proceeds from the sale to reduce its debt, it said.

($1 = 0.9226 euros)

Reporting by Samantha Machado in Bengaluru; Editing by Aditya Soni

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