Swedish Match to divest New York real estate
In conjunction with the integration of the now fully owned company General Cigar, Swedish Match has entered into an agreement to sell General Cigar’s property at 387 Park Avenue South in New York to Rockrose Corporation. Closing of the deal is expected to occur not later than October this year after customary closing conditions.
The selling price is 70 MUSD and will favorably impact net income by approximately 90 MSEK. The sale is estimated to favorably impact cash proceeds by slightly more than 300 MSEK.
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Swedish Match is a unique company with its range of market-leading brands in the product areas of snuff and chewing tobacco, cigars and pipe tobacco – tobacco’s niche products – as well as matches and lighters. The Group’s global operations generated sales of 12,981MSEK for the twelve month period ending June 30, 2005. Swedish Match shares are listed on Stockholmsbörsen (SWMA).
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Swedish Match AB (publ), SE-118 85 Stockholm
Visiting address: Rosenlundsgatan 36, Telephone: + 46 8 658 02 00
Corporate Identity Number: 556015-0756
www.swedishmatch.com
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For further information, please contact:
Sven Hindrikes, President and Chief Executive Officer
Office +46 8 658 02 82, Mobile +46 70 567 41 76
Lars Dahlgren, Chief Financial Officer
Office +46 8 658 04 41, Mobile +46 70 958 04 41
Bo Aulin, Senior Vice President, Secretary and General Counsel
Office +46 8 658 03 64, Mobile +46 70 558 03 64
Emmett Harrison, Vice President, Investor Relations (IR)
Office +46 8 658 01 73, Mobile +46 70 938 01 73
Richard Flaherty, CFO North America Division, US Investor Relations contact
Office +1 804 302 1774, Mobile +1 804 400 1774
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