Cigarette maker Philip Morris International announced that it will boost its 40 per cent stake in Pakistani cigarette maker Lakson Tobacco by 50.21 per cent, or about US$ 338.9 million. 

Philip Morris will make a tender offer to shareholders for all remaining shares at the same price. Lakson Tobacco in total is valued at about US$ 675 million. Philip Morris will pay cash for shares tendered and expects to complete the deal within three months. (pi)