(ANSA-AFP) - LONDON, SEP 8 - British American Tobacco, maker
of Lucky Strike and Dunhill cigarettes, said Thursday it had
agreed to sell its Russian business in the wake of Moscow's
invasion of Ukraine. The London-listed company has "entered into
an agreement to sell its Russian and Belarusian business" to a
consortium led by members of BAT Russia's management team, it
said in a statement. Like many other foreign firms, the group
stated its intention last year to pull out of Russia after
Moscow launched its assault on neighbouring Ukraine in February
2022. Moscow used Belarusian territory as a launchpad for its
Ukraine offensive. The sale, for an undisclosed price, is
expected to complete next month and complies with local and
international laws. "Upon completion, BAT will no longer have a
presence in Russia or Belarus and will receive no financial gain
from ongoing sales in these markets," it added. BAT's Belarus
and Russia activities account for about 2.7 percent of total
revenues and 2.5 percent of adjusted profits. The new owners
will rename the business ITMS Group. (ANSA-AFP).
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