House of Prince A/S &
British American Tobacco PLC | Update Date: 07/06/08 |
| Date Announced: 02/28/08 |
Value (million $USD): 4.14 billion U.S. Dollar
20.33 billion Danish Krone |
|
| Status: Completed | |
| TRANSACTION DETAILS |
|---|
| Date Announced | 02/28/08 | | |
| Date Originally Announced | 02/28/08 | | |
| Format | Merger | Acquisition techniques | Divestiture |
| Attitude | Friendly | Agency | European Commission |
| Value | 4.14 billion U.S. Dollar
20.33 billion Danish Krone | Advisor Fees | n/a |
| SYNOPSIS |
|---|
| DENMARK - British American Tobacco PLC (BA) of the UK acquired the entire share capital of House of Prince A/S, a Soborg-based manufacturer of cigarettes, from Skandinavisk Tobakskompagni A/S (ST), a unit of Skandinavisk Holding A/S. Concurrently, BA acquired the entire share capital of JL Tiedemanns Tobaksfabrik AS of Norway and Fiedler & Lundgren AB of Sweden, from ST. The three transactions were to have a combined value of 20.331 bil Danish kroner (2.084 bil British pounds/$4.145 bil US). BA offered 11.384 bil kroner (1.167 bil pounds/$2.321 bil) in cash and its 32.35% stake in ST, valued at 8.947 bil kroner (917.12 mil pounds/$1.824 bil), and were approved by regulatory authorities. |
| TARGET |
|---|
| Name | House of Prince A/S |
| Industries | Cigars |
| City | Soborg |
| State | n/a |
| Nation | Denmark |
| Incorporated in | n/a |
| Public Status | Subsidiary |
| Business Description | House of Prince A/S, headquartered in Soborg, Denmark, manufactures cigarettes for the home market, partly for export and duty-free sales. It also manufactures cigarettes in its own factory in Poland. The company was founded in 1990. |
| Advisors | Credit Suisse Group |
| Target Sales | 546.4 million U.S. Dollar
3.00 billion Danish Krone |
|
| ACQUIROR |
|---|
| Name | British American Tobacco PLC (London : BAT) |
| Industries | Tobacco and tobacco products; Offices of holding companies, nec |
| City | London |
| State | n/a |
| Nation | United Kingdom |
| Incorporated in | n/a |
| Public Status | Public |
| Business Description | British American Tobacco PLC, based in London, UK, manufactures, wholesales, markets and sells cigarettes and other tobacco products under the brands including Kent, Dunhill, Lucky strike, Pall Mall, Vogue, Viceroy, Rothmans, Kool, Benson & Hedges, State Express 555, Peter Stuyvesant, Jockey Club, Derby, Winfield, Star Filter, Hollywood, Free, Du Maurier, Players, Matinee, MS, Sax, Boots, Raleigh, Montana, Wills Gold Flake, Parisienne, Belmont, Consul, Carlton and John Player Gold Leaf operating in the UK, Belgium, Cyprus, The Czech Republic, Finland, France, Germany, Greece, Hungary, Italy, The Netherlands, Poland, US, Russia, Serbia, Spain, Switzerland, Ukraine, Uzbekistan, Canada and Japan. The company was founded in 1928. |
| Advisors | Deutsche Bank AG |
| Acquiror Sales | 19.90 billion U.S. Dollar
10.02 billion British Pound |
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