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PMI and JTI acquire stakes in Russian distribution firm

PMI and JTI acquire stakes in Russian distribution firm

| December 4, 2013

Philip Morris International and Japan Tobacco International are acquiring equity stakes of 20 percent each in Megapolis Distribution, the holding company of CJSC TK Megapolis, a major distributor in Russia. The companies are paying $750 million each for their stakes. If Megapolis’ operational performance meets certain benchmarks during the four fiscal years following the closing […]

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