Japan firm buys 50% of State-owned cigarette maker for US$14.0M
Santiago.- The head of the endowment fund of the former State-owned companies (FONPER) on Monday announced the firm Japan Tobacco International acquired a 50% stake in the cigarette maker La Tabacalera, after buying City Caribe, while the Dominican State remains with a 50% stake.
Fernando Rosa said the media will be provided the full details of the deal in a National Palace meeting starting 4pm Tuesday, together with officials of the economic cabinet.
He said one the Dominican economy’s former pillar companies was sold for RD$630.0 million (US$14 million).
Interviewed by Nexxo radio in Santiago the official said the deal will means new funds for the joint venture company to “energize and make the cigarette market more competitive.”
Feb 16, 2016
Category: DR News |