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• Philip Morris International Inc. Announces Successful Public Tender Offer for Coltabaco S.A. 

Jump to full article: Business Wire, 2005-04-25

Intro:

GWP C.V., an affiliate of Philip Morris International Inc. (PMI), acquired 96.65% of the outstanding shares of Compania Colombiana de Tabaco S.A. ("COLTABACO") in a Public Tender Offer completed today.

The price offered per share was COP 11,398.13 (US $4.878817). GWP has purchased 96.65% for a value of COP 700.007 billion (US $299.6 million). The offer valued 100% of Coltabaco shares at COP 724.237 billion (US $310 million).

"Our investment in COLTABACO is a great opportunity to significantly expand our business in Colombia and in Latin America," said Andre Calantzopoulos, President and Chief Executive Officer of PMI.

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