Financial Times FT.com

Philip Morris in South African deal

By Pan Kwan Yuk in London

Published: July 2 2009 22:16 | Last updated: July 2 2009 22:16

Philip Morris International, the world’s largest listed tobacco company, extended its push into smokeless tobacco products on Thursday with a deal to buy Swedish Match’s South African business for R1.75bn ($222m).

The deal, which PMI said would still need to be approved by South African regulatory authorities, would give it a dominant position in nasal snuff products, as well as pipe tobacco, in the country.

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