BackTHE ST GROUP READY FOR GROWTH AFTER DIVESTMENT
On 27 February 2008 Skandinavisk Holding (SH)/Skandinavisk Tobakskompagni (ST) and British American Tobacco (BAT) entered an agreement on BAT’s acquisition of the companies House of Prince, Tiedemanns Tobakk and Fiedler & Lundgren, as well as SH’s purchase of BAT’s shares in ST.
The agreement was subject to the competition authorities’ approval. The approval has now been given, however on the condition that BAT in connection with the acquisition divests certain cigarette and roll-your-own brands of Tiedemanns Tobakk, primarily in Norway.
The deal with BAT has therefore been concluded.
As part of the BAT transaction R. Færchs fabrikker withdraws as share-holder in SH, which hereafter is owned by Chr. Augustinus Fabrikker (approx. 58%) and C.W. Obel (approx. 42%). Furthermore, ST has acquired Assens Tobaksfabrik’s 50% shareholding in Orlik Tobacco Company which has become a 100%-owned company in the ST Group.
The future ST Group will move to a new domicile in the Copenhagen area during the autumn. The Group, with almost 10.000 employees, will remain a significant and strong international company with a turnover of DKK 22 billion.
Thus, the ST Group is a world leading manufacturer of cigars and pipe tobacco, and a considerable player with respect to roll-your-own tobacco.
The ST Group’s ownership of the convenience goods company Dagrofa and ST’s engagement in Tivoli will continue unchanged.
ST’s Board of Management consists of Anders Colding Friis (CEO), Christian Hother Sørensen and Rob Zwarts.
For further information:
Director Jørgen Tandrup, Chairman of the Supervisory Boards of SH and ST,
Anders Colding Friis, CEO in ST.
Tel: +45 39 55 62 00
ABOUT SCANDINAVIAN TOBACCO GROUP
- a world leading manufacturer of cigars and traditional pipe tobacco
- approx. 8,200 employees in the Dominican Republic, Honduras, Nicaragua, Indonesia, Europe, New Zealand, Australia, Canada and the US
The Group’s brand portfolio contains more than 200 international, regional and local tobacco brands, including the cigar brands Café Crème, La Paz, Henri Wintermans, Macanudo, CAO, Partagas (US) and Cohiba (US). Pipe tobacco brands include Captain Black, Erinmore, Borkum Riff and W.Ø. Larsen, while leading fine-cut tobacco brands include Bugler, Break, Escort, Bali Shag and Tiedemanns.
The Group is ultimately owned by two Danish foundations (51%) – the Augustinus Foundation and Det Obelske Familiefond – and by Swedish Match (49%). Both Danish foundations have been active in the tobacco industry for more than 250 years. Swedish Match is a publicly owned company listed on the Stockholm Stock Exchange.
Read more: www.st-group.com.
Scandinavian Tobacco Group A/S
Sydmarken 42
DK-2860 Søborg
Denmark
CVR 31 08 01 85
