UK cigarette maker British American Tobacco mulls Souza Cruz bid February 23, 2015 British American Tobacco (BAT) is weighing up an offer for the remaining stake in Souza Cruz, Brazil’s largest cigarette company. London-based BAT – the maker of Pall Mall and Dunhill cigarettes – is the current majority shareholder but hopes to acquire the remaining 24.7 per cent of the company. Any offer would be made at [...]
Des Naughton resigns from Nicoventures: British American Tobacco loses ecigarette managing director November 20, 2014 Des Naughton, managing director of British American Tobacco (BAT) ecigarettes subsidiary Nicoventures, has resigned from the group, it said in a statement yesterday. Naughton will leave BAT on 28 February 2015 after nearly 20 years with the tobacco giant, four of which has been on the management board. In that time, he has also been [...]
British American Tobacco whacked with £650,000 fine by HMRC for “oversupplying” Belgium cigarette market November 13, 2014 British American Tobacco (BAT) has been hit with a fine of £650,000 by HM Revenue & Customs for oversupplying cigarettes to Belgium, which has substantially lower tobacco taxes than Britain. Apparently, that causes more low-cost cigarettes to be smuggled into the UK. According to papers seen by the Wall Street Journal, it is the first [...]
British American Tobacco share price slides as revenues go up in smoke October 22, 2014 British American Tobacco (BAT) is one the biggest fallers on the FTSE 100 this morning dipping by 4.5 per cent. Revenues at BAT fell by 9.6 per cent at current rates of exchange in the nine months ended 30 September. However, using constant rates of exchange revenue grew 2.4 per cent. The tobacco giant suffered [...]
British American Tobacco backing $56bn merger July 14, 2014 BRITISH American Tobacco (BAT) is set to wade into one of the biggest tobacco deals in the industry’s history this week as it looks to up its stake in Reynolds as part of an expected $56bn (£32.7bn) mega-merger between Lorillard and Reynolds. BAT, which currently holds a 42 per cent stake in Reynolds, on Friday [...]
British American Tobacco sees volumes fall despite emerging market growth April 30, 2014 British American Tobacco (BAT) has reported a fall in revenue of 12 per cent at current rates of exchange for the three months ended 31 March. The decline in revenue was attributed to lower volume and the timing of price increases. The tobacco giant's cigarette volume from subsidiaries declined by one per cent 158bn, with [...]
Communisis in new talks of a takeover October 28, 2005 Printing company Communisis yesterday confirmed that it was in its second set of takeover talks this year. The Leeds-based group said the discussions are at an early stage with what it described as “a small number of other parties”. But, the group said, “it is far from certain that they will lead to an offer [...]