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SUDAN

Japan Tobacco completes acquisition

01 Dec 2011. JT Group has completed the acquisition of Haggar Cigarette & Tobacco Factory Ltd. (HCTF) in North Sudan and Haggar Cigarette & Tobacco Factory Ltd. in South Sudan, a step that was announced on 28 July 2011.

HCTF sold over 4.5 billion cigarettes in 2010, said the JT Group, which puts the nominal value of HCTF at approximately USD 450 million (EUR 337 million). This values the transaction at 9.9 times of HCTFs 2010 underlying earnings before interest, tax, depreciation and amortization.

JT expects the acquisition to have little impact on the groups consolidated account for the fiscal year ending March 2012.

The southern region of the Republic of Sudan became independent on 9 July 2011, with the name of South Sudan. Thereafter, the Republic  of Sudan renamed itself into "North Sudan" in August. (ci/pi)