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BAT snaps up Indonesian firm

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BRITISH American Tobacco has bought an 85 per cent stake in Indonesia’s fourth-largest cigarette maker by volume for $494m (£301m).

BAT, maker of Dunhill and Lucky Strike, said the decision to acquire an 85 per cent stake in Bentoel Internasional Investama will give it a foothold in Indonesia’s lucrative kretek, or clove-flavoured cigarette market, which accounts for 93 per cent of the country’s tobacco sales.

BAT added that it could make further acquisitions in the region.