Philip Morris to Buy Some Imperial Tobacco Trademarks for 254 mln Euros UPDATE

Source from:  NEW YORK (Thomson Financial) 04/24/2008

Philip Morris International said it agreed to buy the Interval trademark and certain other trademarks from Imperial Tobacco Group PLC for 254 million euros ($405.4 million). Philip Morris expects the deal to add 1 cent a share to earnings. The deal, which is expected to close by the end of the second quarter, is subject to approval by the European Commission and other local regulatory agencies. In a separate statement, Imperial Tobacco said the divestment of a small number of brands in certain European markets was a condition of the European Commission's approval of its buy of Franco-Spanish rival Altadis. The UK-based company reiterated the sale will not "materially adversely affect" its operational and financial performance. Shares in Philip Morris closed Tuesday at $50.07. At 13.00 p.m BST in London, shares in Imperial Tobacco were down 9 at 2,501 pence. Tomi Kilgore tk1/vlb COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. Enditem