British American Tobacco (BAT) announced on Thursday that it has reached an agreement to sell its businesses in Russia and Belarus. The deal involves a consortium led by members of BAT Russia’s management team. This move is seen as part of BAT’s strategy to streamline its operations and focus on key markets.
The consortium, which includes JTI Russia and JTI Belarus, will acquire BAT’s operations in both countries. This includes the manufacturing facilities, distribution networks, and other assets. The sale is expected to be completed by the end of the year, pending regulatory approval.
By divesting its Russian and Belarusian businesses, BAT aims to optimize its portfolio and allocate resources more effectively. The company believes that the consortium led by BAT Russia’s management team is well positioned to continue driving growth and success in these markets.
This strategic move allows BAT to prioritize its core markets and capitalize on opportunities for future expansion and innovation. It also aligns with its ongoing commitment to delivering sustainable value for its shareholders.
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