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Cigarettes & Tobacco M&A image Cigarettes & Tobacco M&A » By The Online Investor Staff, updated Thu., Apr. 25, 6:00 PM Recent mergers and acquisitions in the Cigarettes & Tobacco M&A category.

This Slide: #4 of 4

Slide #4. Philip Morris International Inc. — 49% Interest in Arab Investors-TA

Acquirer: Philip Morris International Inc. (NYSE:PM)
Acquiree: 49% Interest in Arab Investors-TA
Details: Philip Morris International Inc. (NYSE / Euronext Paris: PM) announces today its entry into a definitive agreement to acquire 49% of the shares of United Arab Emirates-based Arab Investors-TA (FZC) ("AITA") for $625 million. Through its acquisition of 49% of the shares of AITA, PMI will secure an almost 25% economic interest in the Socit des Tabacs Algro-Emiratie ("STAEM"), a joint venture which is 51% owned by AITA and 49% by the Algerian state-owned Socit Nationale des Tabacs et Allumettes SpA, the market leader. STAEM, with which PMI has had a successful partnership since 2005, manufactures and distributes under license PMI's Marlboro and L&M brands, which together hold a significant share of the international trademarks sold in Algeria, placing PMI's brand portfolio as the second largest in the market. 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.

Philip Morris International is a holding company. Through its subsidiaries, Co. is an international tobacco company engaged in the manufacture and sale of cigarettes, as well as smoke-free products, associated electronic devices and accessories, and other nicotine-containing products in markets outside the U.S. Co. has a range of reduced-risk products in various stages of development, scientific assessment and commercialization. Co.'s IQOS smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. Co.'s smoke-free platform is a controlled device into which a heated tobacco unit is inserted and heated to generate an aerosol.

Philip Morris SEC Filing Email Alerts Service


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PM — Key Stats (updated 6 hours, 56 minutes ago)
Company Name:  Philip Morris International Inc
Website:  www.pmi.com
Sector:  Cigarettes & Tobacco
Number of ETFs Holding PM:  106
Total Market Value Held by ETFs:  $18.91B
Total Market Capitalization:  $151.61B
% of Market Cap. Held by ETFs:  12.48%
 

Open the PM Page at The Online Investor (in a new window) »
April 25, 2024  •  6:00 PM Eastern
PM — Current Quote
Quotes delayed 20 minutes

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Avg. Broker Rec.

Buy (3.11 out of 4)
35th percentile
(ranked lower than approx. 65% of all stocks covered)

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