BAT offers to buy out Souza Cruz stake | Fin24
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BAT offers to buy out Souza Cruz stake

Mar 06 2015 10:14


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Last traded 643
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Cumulative volume 108927
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Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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London - British American Tobacco [JSE:BTI] said on Tuesday it was seeking to buy the 24.7% it did not already own in Brazil's Souza Cruz and to delist the company.

The world's second-largest cigarette maker, which had said it was considering the idea in February, said the offer would be at a price per share of 26.75 Brazilian reals in cash.

The buyout would give the producer of Dunhill cigarettes full control over Souza Cruz, which has about 80% of Brazil's market.



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