Imperial to float Logista

Imperial Tobacco said yesterday that it intended to float its European logistics division, Logista, on the Spanish stock market, according to a story by Paul Sandle for Reuters.

Imperial said its indirectly wholly owned subsidiary Altadis would sell a portion of shares in Logista to institutional investors in an initial public offer.

The company said in February that it was reviewing Logista as part of a focus on its core cigarette business.