Ja­pan To­bacco to buy Akij Group

India Business Journal - - GLOBAL WRAP-UP -

Ja­pan To­bacco is buy­ing the to­bacco busi­ness of Bangladesh's Akij Group for around $1.5 bil­lion. This is the Ja­panese com­pany's sec­ond ma­jor pur­chase in five months as the world's third­biggest cig­a­rette-maker seeks new growth mar­kets to off­set shrink­ing sales at home. The $1.5-bil­lion deal, the big­gest ever in­volv­ing a Bangladeshi com­pany, comes af­ter Ja­pan To­bacco had agreed in March to buy Rus­sia's Don­skoy Tabak for about $1.42 bil­lion. Akij is Bangladesh's sec­ond-big­gest to­bacco com­pany and holds about 20 per cent of the cig­a­rette mar­ket in that coun­try.

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