British American Tobacco will acquire cigarette manufacturer Fabrika Duhana Sarajevo (FDS) by the middle of this year after an Austrian investment company bought a controlling stake on behalf of BAT, said the EBL News website.
CID Adriatic Investments raised its stake in the Bosnia-Herzegovina cigarette maker to 78 per cent from 38 per cent and will sell its interest to BAT, according to EBL, which cited remarks by BAT Adria CEO Ram Addanki and FDS Director Edin Mulahasanovic. FDS will continue making cigaretes for local and regional markets, according to EBL, an online news service based in Croatia.
FDS has branches in Bihać, Tuzla and Mostar and an enterprise in the Serbian capital, Belrade, according to the company website. FDS cigarette brands include AurA and Drina. Last year BAT acquired Tvornica Duhana Rovinj (TDR) in Croatia.