Swedish Match South Africa Sale Completed

Source from:  Tobacco Reporter 09/16/2009

Swedish Match has announced the finalization of the sale of its South African operation to Philip Morris International. In a note posted on its website, SM said the sale of Swedish Match South Africa (Pty) Ltd (SMSA) to PMI had been completed at a price of ZAR1.75 billion plus a preliminary adjustment for cash and working capital amounting to ZAR230 million. SM said it would use the proceeds from the sale of SMSA to continue its share buyback program. Enditem