Dominican Republic to Sell Entire Stake in Tobacco Emporium

Source from:  Dominican Today  10/08/2014

President Danilo Medina on Monday authorized the sale of all of the government's entire stake in the tobacco company La Tabacalera, through a call for tenders.

Though neither the Presidency's Press Office nor the Legal Adviser had officially announced the measure, Executive order 345-14 was signed September 15.

Medina authorizes the State-owned Companies Fund (Fonper) to sell the Government's 49.50% stake in the Tabacalera, whose main offices in Santiago had been shuttered for decades.

"There's abundant scientific evidence of (tobacco's) severe damage to human health, since it is associated with the emergence of cancerous tumors," the executive order says as the motivation. Enditem