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Article: American Brands announces sale of Dutch subsidiary. (Theodorus Niemeyer B.V. Group of Companies)
- Article from:
- PR Newswire
- Article date:
- July 2, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. 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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AMERICAN BRANDS ANNOUNCES SALE OF DUTCH SUBSIDIARY
OLD GREENWICH, Conn., July 2 /PRNewswire/ -- American Brands, Inc. (NYSE: AMB) announced today that its Gallaher Limited subsidiary has sold the Theodorus Niemeyer B.V. Group of Companies, based in The Netherlands, to the Rothman's Group for approximately DFL. 245 million (about $130 million).
The company reported that the transaction will result in a gain of approximately $53 million in operating income and $29 million in net income. The transaction will be recorded in the third quarter of 1990.
Niemeyer is predominantly engaged in the manufacture and marketing of fine cut and pipe ...