Philip Morris purchased the remaining 25 percent of its subsidiaries in Turkey from Sabancı Holding.
Philip Morris International (PMI) has acquired the remaining 25 percent of the shares of Philsa and PMSA. PMI has been a majority shareholder of 75 percent of PHILSA and PMSA since their founding in the early 1990s. As a result of this transaction, PMI acquired 100 percent of the shares through its subsidiaries. The purchase price corresponding to 747 million TL was paid. PMI Middle East, Africa and Duty Free President Drago Azinovic said, “We would like to express our deepest gratitude to Sabancı Management, with whom we have established a very successful partnership relationship since the early 1990s. Innovation, development and digital transformation are our top priorities. The said acquisition reflects PMI’s trust and commitment to Turkey’s future and economy. Our desire to offer better alternatives to Turkish adult cigarette consumers, as well as to millions of cigarette consumers in 70 countries of the world, continues.” PMI Philip Morris PMSA shares
Labels
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here