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Latest News Headlines for Philip Morris International Inc
Philip Morris International Inc. ("PMI") to Acquire Remaining 20% Interest in Its Mexican Subsidiary
NEW YORK--(BUSINESS WIRE)--May 21, 2013-- Regulatory News: Philip Morris International Inc. (NYSE / Euronext Paris: PM) announces that Grupo Carso, S.A.B. de C. V. ("Grupo Carso") will sell to PMI its 20% interest in Philip Morris Mexico, S.A. de C.V. ("PMM"), PMI's Mexican tobacco business. The final purchase price, currently estimated to be approximately $700 million, will be determined by a pre-agreed formula. It is subject to a potential adjustment based on PMM's actual performance over three years ending two fiscal years after the closing of the purchase. The transaction, as a result of which PMI will own 100% of PMM, is expected to be completed by September 30, 2013, subject to the approval of the Mexican antitrust authority, and is projected to be immediately marginally accretive to PMI's earnings per share as of the fourth quarter of 2013.
Philip Morris International Inc. (PMI) Presents at Goldman Sachs Consumer Products SymposiumView more recent headlines
NEW YORK--(BUSINESS WIRE)--May 14, 2013-- Regulatory News: Philip Morris International Inc.'s (NYSE / Euronext Paris: PM) Chief Financial Officer, Jacek Olczak, will address investors today at the Goldman Sachs Consumer Products Symposium in New York.
Latest Annual and Quarterly SEC Filings
Philip Morris International Inc. (PMI) is a holding company. PMI's subsidiaries and affiliates and their licensees are engaged in the manufacture and sale of cigarettes and other tobacco products in markets outside of the United States of America. Its products are sold in approximately 180 countries. The Company divides its markets into four geographic segments: The European Union (EU) Region , The Eastern Europe, Middle East & Africa (EEMA) Region , The Asia Region and The Latin America & Canada Region. In June 2011, it completed the acquisition of a cigarette business in Jordan, consisting primarily of cigarette manufacturing assets and inventories. January 1, 2011, it established a business structure with Vietnam National Tobacco Corporation (Vinataba) in Vietnam, further developing its joint venture with Vinataba through the licensing of Marlboro and establishing a PMI-controlled branch for the building of its brands.
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96.73 / 5/1/2013
81.10 / 6/5/2012
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0.85 - QRTR
Last Trade as of 5/23/2013 2:22 PM ET