Japan Tobacco Inc., a global leader in cigarette production, is going to become the owner of Russia’s top tobacco producer, Donskoy Tabak, after clinching a deal to buy it for a price tag of $1.6 bln, the company said, TASS reported.
"Japan Tobacco Inc. is announcing a transaction to purchase the Donskoy Tabak company, thus bolstering its position to number one in Russia and making it the world’s third largest on the tobacco market. The deal is estimated to be worth approximately 90 bln rubles ($1.6 bln)," the Japanese company said.
The transaction is anticipated to be closed by the third quarter of 2018 after its regulatory clearance.
