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Philip Morris International Competes For The Acquisition of COLTABACO.
- Article from:
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Canadian Corporate News
- Article date:
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September 1, 2004
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Copyright informationCOPYRIGHT 2004 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAUSANNE, Switzerland, Sep 1, 2004 (CCNMatthews via COMTEX)
Philip Morris International announced that one of its affiliates had entered into an agreement with a group of principal shareholders to acquire a controlling interest, representing at least 51% of the shares outstanding, in the Colombian company Compania Colombiana de Tabaco S.A. "COLTABACO" at a maximum price per share of US $4.88. Philip Morris has agreed to purchase the principal shareholders' shares in a public tender offer for up to 100% of COLTABACO's stock, representing approximately US $310 million.
COLTABACO was established in 1919 and is the largest tobacco company in Colombia and the largest ...
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