Philip Morris International Inc. (PMI) Evaluates Decision on Colombian Acquisition
NEW YORK, Oct 06, 2010 (BUSINESS WIRE) --
Philip Morris International Inc. (NYSE:PM)(Paris:PM) today announced that the Superintendent of Industry and Trade of Colombia has issued its final decision pertaining to PMI's previously announced intention to acquire Productora Tabacalera de Colombia, Protabaco Ltda. in July of 2009. Approval to proceed with the acquisition has been granted subject to several significant conditions and constraints.
PMI will now thoroughly review those conditions and determine whether or not the strategic rationale and financial attractiveness of the originally envisaged transaction can still be safeguarded in the best interest of its shareholders.
PMI anticipates that it will be in a position to make a final determination on whether or not to proceed within the next three months.
Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world's top 15 brands, including Marlboro, the number one cigarette brand worldwide. PMI's products are sold in approximately 160 countries. In 2009, the company held an estimated 15.4% share of the total international cigarette market outside of the U.S., or 26.0% excluding the People's Republic of China and the U.S. For more information, see www.pmi.com.
SOURCE: Philip Morris Internat
Monica Montero
Lausanne: +41 (0)58 242 4500
Email: media@pmi.com
New York: + 1 (917) 663 2233
Lausanne: + 41 (0)58 242 4666