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Article: Philip Morris Offers $5B for Indonesian Co.
- Article from:
- AP Online
- Article date:
- March 14, 2005
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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CHRISTOPHER WANG, AP Business Writer
AP Online
03-14-2005
Dateline: NEW YORK
A cigarette vendor adds a carton of Marlboro tobacco cigarettes to his stand, Monday, March 14, 2005, in Jakarta, Indonesia. US tobacco giant Philip Morris International Inc., who manufacture Marlboro, on Monday said it had offered to buy Sampoerna, heavy-smoking Indonesia's third largest cigarette maker, in a deal worth US$5.2 billion. (AP Photo/Irwin Fedriansyah)
Altria Group Inc.'s Philip Morris International division has made a $5 billion offer to acquire Indonesia's third-largest cigarette producer, boosting its market share in a country of heavy smoking as revenues in other parts of the world shrink on health ...