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Written by Staff

Sunday, 27 January 2008

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altadisimperial
industry updates

Imperial Tobacco Group PLC said Friday it secured 95.8% of Altadis SA (ALT.MC) and moved to take full control of the French-Spanish company's profitable distribution unit Logista SA (LOG.MC), paving the way for one of the largest takeovers in the tobacco industry. The EUR12.6 billion cash takeover of Altadis will allow U.K.-based Imperial Tobacco, known for its Davidoff and West brand cigarettes, to close the gap on rivals Altria Group Inc.'s Philip Morris business, Japan Tobacco Inc. (2914.TO) and British American Tobacco PLC. Altadis manufactures Fortune, Gitanes and Ducados cigarettes and is also the world's leading cigar distributor through its 50-50 venture with the Cuban state-owned cigar company Habanos.

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