Press release; Oct 29, 2010 12:00 PM CET
Swedish Match receives 170 MEUR from Scandinavian Tobacco Group
As previously announced, the new Scandinavian Tobacco Group (STG) formed October 1, 2010, has a financial strategy stipulating a target net debt of two to three times EBITA. STG has now secured external financing in line with its financial strategy, and as a consequence of this, STG has made a repayment of loans of 170 MEUR to Swedish Match. The loans were given from Swedish Match to STG in connection with the formation of the new company and include the 30 MEUR cash consideration as compensation for the relative differences in enterprise values of the businesses contributed from the former Scandinavian Tobacco Group and Swedish Match. Final purchase price adjustments are expected to be determined and settled in the first quarter of 2011.
For further information, please contact:
Lars Dahlgren, President and Chief Executive Officer
Office +46 8 658 0441, Mobile +46 70 958 0441
Joakim Tilly, Chief Financial Officer
Office +46 8 658 0213, Mobile +46 76 860 9597
Emmett Harrison, Senior Vice President Corporate Communications and Sustainability
Office +46 8 658 0173, Mobile +46 70 938 0173
