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BULGARIA

BAT buys cigarette brands from Bulgartabac

12 Apr 2017. British American Tobacco agreed to acquire cigarette brands from Bulgartabac in a deal worth more than EUR 100 (USD 106 million) that would give BAT a substantial share of the Bulgarian market, Reuters said.

Leading brands Victory, Eva Slim and GD would be transferred to BAT and help the global tobacco company expand its share of the Bulgarian market to 40 per cent from 12 per cent, the news agency said. Pending anti-trust approval, the deal is expected to be closed by the end of June, Reuters said, citing a statement from BAT. The deal includes retail and distribution assets in Bulgaria and Bosnia, Reuters said.