Philip Morris International will buy Grupo Carso’s 20 percent share in Philip Morris Mexico (PMM)) for approximately $700 million. The purchasing price is subject to a potential adjustment based on PMM’s performance over three years ending two fiscal years after the closing of the purchase. The transaction, which will give PMI a 100 percent share [...]
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Philip Morris International is strengthening its long-term commitment to the future of tobacco growing in Spain by renewing its Framework Collaboration Agreement with the Spanish Ministry for Agriculture, Food and the Environment for the next three years, the company said last week. “As part of the new Agreement signed today in Madrid and subject to [...]
Philip Morris International reported net revenues, excluding excise taxes, of $7.9 billion in the third quarter of 2012, down 5.3 percent from the comparable 2011 quarter. Its cigarette shipment volume was down by 1.3 percent. Operating companies’ income was down 1.5 percent, to $3.7 billion. Excluding the impact of currency exchange rates and acquisitions, reported [...]