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Bids, Mergers and Takeovers

BAT completes acquisition of Reynolds

25 July 2017 13:38

British American Tobacco has announced the completion of the acquisition of Reynolds American by acquiring the remaining 57.8% stake not already owned.

BAT's Chief Executive, Nicandro Durante commented:

"This is a transformational deal. We will take the best of the best from both businesses across all areas to create a stronger, more sustainable company. We are pleased to welcome Reynolds group employees to British American Tobacco and look forward to progressing what we are confident will be a smooth integration. Work has already begun to realise the projected cost synergies and we are committed to driving continued, sustainable profit growth and returns for shareholders long into the future."

At 1:38pm: (LON:BATS) British American Tobacco PLC share price was -80.5p at 5332.5p

Story provided by StockMarketWire.com

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