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Philip Morris to Acquire Protabaco for $425 Million (Update2)  

Philip Morris International Inc. agreed to buy Productora Tabacalera de Colombia, Protabaco Ltda. for $452 million, its second acquisition this month as tobacco demand rises in emerging markets.

The purchase of Colombia’s second-largest tobacco company needs regulatory approval and is expected to be completed within six months, New York-based Philip Morris said today in a statement. The maker of Marlboro cigarettes bought Colombia’s biggest tobacco company, Compania Colombiana de Tabaco SA, in 2005.

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