Jump to full article: Agence France Presse (AFP) (fr), 2008-01-22
Author: Roland Jackson Tue Jan 22, 8:47 AM ET
Intro: A new tobacco giant incorporating well-known brands Regal cigarettes and Montecristo cigars emerged Tuesday as Britain's Imperial Tobacco won control of Franco-Spanish peer Altadis.
Imperial said in a statement that Altadis shareholders overwhelmingly backed its takeover bid for Altadis worth 12.8 billion euros (18.8 billion dollars).
The takeover will create Europe's second-largest tobacco company, behind Altria Group's Philip Morris, making about 312 billion cigarettes a year.
The combination of the world's fourth and fifth biggest tobacco groups will bring together Imperial Tobacco brands Regal, Embassy and Davidoff, with Altadis' Montecristo and Gauloises.
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