British American Tobacco (BAT) said today it would sell its Russian and Belarusian businesses to a consortium led by its Russian management team, ending an 18-month-long process.
The maker of Camel and Lucky Strike cigarettes had committed to exit Russia, the world’s fourth-largest cigarette market, in March 2022, following Moscow’s invasion of Ukraine.
Read the full article on the Reuters website
NAM Implications:
- Giving up a 25% share of the 4th biggest tobacco market is a big decision…
- Rivals will wonder re the following:
- Will exporting of the BAT brands be permitted?
- Are there any QC conditions?
- Is there a buy-back clause?
- A pointer for others…
