Categories
· Business (Tobacco)
non-USA, by Country
· Canary Islands
Organizations
· Glh
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(Adds detail, shares)
Jump to full article: Reuters, 2005-09-22
Intro: British tobacco firm Gallaher Group Plc (GLH.L) has agreed to buy a group of companies for 85 million euros ($104 million) cash to strengthen its position in the Canary Islands, Spain and Portugal.
Gallaher, whose UK cigarette brands include Benson & Hedges, Silk Cut and Mayfair, said on Thursday it was buying Cita Tabacos de Canarias and its group of companies from joint owners Altadis SA (ALT.MC) and Agrupacion Tabaquera Insular Canaria.
It will also assume 20 million euros of Cita's debt.
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