Austria Tabak gets nod for takeovers (fwd)

[Robert Weissman <rob@essential.org>]

Austria Tabak gets nod for takeovers
by Reuters [WN] via NewsEdge
Austria Tabak gets nod for takeovers

        July 30, 1999
        
VIENNA, Reuters [WN] via NewsEdge Corporation : Tobacco manufacturer and
wholesaler Austria Tabak said on Thursday that competition authorities had
given the green light for its Swedish and Estonian acquisitions.

"As expected, unconditional approval of Austria Tabak's takeover of
Swedish Match's <SWMA.ST> cigarette business was granted by the Estonian
competition authority on July 12, 1999, and by its Swedish counterpart on
July 21, 1999," the company said in a statement.

Austria Tabak said the transaction would provide it with a springboard for
further internationalisation of its cigarette business.

Swedish Match, the tobacco product, lighter and match company which also
has business in Estonia, announced on May 31 it was selling its cigarette
operations to Austria Tabak for 4.8 billion crowns.

((Vienna Newsroom +43-1-53112256, vienna.newsroom@reuters.com)) REUTERS


        
        [Copyright 1999, Reuters World News Service]