Philip Morris In $625 Million Acquisition Deal With Arab Investors-TA

Philip Morris International Inc. (NYSE:PM) is set to buy a 49 percent stake in Arab Investors-TA for $625 million. The acquisition would bolster the cigarette major’s presence in the emerging markets.

25 Percent Interest In The Joint Venture

As a result of the proposed deal, Philip Morris International Inc. (NYSE:PM) would get nearly 25 percent interest in the Societe des Tabacs Algero-Emiratie, a joint venture between Arab Investors-TA and Algerian state-owned Societe Nationale des Tabacs et Allumettes SpA.

Philip Morris International Inc. (NYSE:PM) sells brands including Marlboro overseas. The Société des Tabacs Algéro-Emiratie makes and distributes Philip...