Categories
· Business (Tobacco)
non-USA, by Country
· Canada
Organizations
· MO
· Rothmans B&H
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Jump to full article: Business Wire, 2008-09-12
Intro: Philip Morris International Inc. (NYSE/Euronext Paris: PM) today received Ministry of Industry approval pursuant to the Investment Canada Act in connection with the company's proposed acquisition of Rothmans Inc. (TSX: ROC).
The issuance of this approval satisfies the last remaining regulatory condition to the company's acquisition offer dated August 7, 2008. In connection with the determination of net benefit, the company provided certain undertakings, including pledges to continue to operate Rothmans, Benson & Hedges Inc.'s current manufacturing facilities in Canada, invest in their modernization and provide minimum employment assurances.
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