NEW YORK--(BUSINESS WIRE)--December 04, 2013--
Philip Morris International Inc. (NYSE / Euronext Paris: PM) ("PMI") announces today its agreement to acquire a 20% equity interest in Megapolis Distribution BV, the holding company of CJSC TK Megapolis ("Megapolis"), PMI's distributor in Russia. The purchase price of $750 million excludes an additional payment of up to $100 million which is contingent on Megapolis's operational performance over the four fiscal years following the closing of the purchase. PMI expects the transaction to be completed by the end of 2013 without requiring regulatory approvals. The transaction is projected to be accretive to PMI's earnings per share as of the first quarter of 2014.
LONDON, December 3, 2013 /PRNewswire/ --
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On Monday, December 02, 2013, the U.S. equity market finished the day on a lower note, the S&P 500 ended the day at 1,800.90, down 0.27%; the Dow Jones Industrial Average closed at 16,008.77, down 0.48%; and the NASDAQ Composite finished at 4,045.26, down 0.36%. The S&P 500 Consumer Staples Sector Index ended the day at 439.45, down 0.48% and the S&P 500 Tobacco Industry Index edged 0.48% lower, closing at 804.11. The tobacco industry shares have gained 5.44% in the previous three months, compared to a gain of 10.28% in the S&P 500 during the same period. The major movers in the industry included Altria Group Inc. (NYSE: MO), Philip Morris International Inc. (NYSE: PM), Lorillard Inc. (NYSE: LO), and Reynolds American Inc. (NYSE: RAI). All these companies are tracked by AAAResearchReports.com. Free technical research on MO, PM, LO, and RAI can be downloaded upon signing up at:
Quarterly reports contain financial statement, a discussion from management and a list of company events (stock splits, acquisitions, etc.)
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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