Imperial Brands PLC (“Imperial”) is pleased to confirm the completion today of the sale of its worldwide premium cigar businesses (“Premium Cigars”) for a total consideration of €1,225 million, of which net cash proceeds of €1.1 billion will be used to reduce debt.
As announced on 27 April 2020, €88 million of consideration will be deferred for 12 months from today’s close, with a further €69 million deferred and contingent upon the transfer of the Dominican Republic factory, which is expected to complete in 2021. As subsequently announced on 28 September, Imperial has provided a further six-month deferral of €250 million while the buyers finalise long-term financing arrangements.
| Investor Contacts | Media Contacts | ||
| Peter Durman | +44 (0)7970 328 903 | Alex Parsons | +44 (0)7967 467 241 |
| Matt Sharff | +44 (0)7964 110 921 | Simon Evans | +44 (0)7967 467 684 |
| James King | +44 (0)7581 052 880 |
