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• Altadis Buys Morocco Tobacco Company for $1.51 Bln (Update7) 

Jump to full article: Bloomberg News, 2003-06-02

Intro:

Altadis SA, Europe's third-largest cigarette maker, agreed to buy Regie des Tabacs Marocains, Morocco's state-owned tobacco company, for $1.51 billion, more than analysts expected, to gain the only tobacco maker in a country where consumption is rising.

Altadis, based in Madrid, bought 80 percent of Regie des Tabacs for cash, the Spanish company said in a faxed statement. Altadis will finance the purchase through a loan and by selling bonds. The price values all of Regie des Tabacs at $1.89 billion.

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