Philip Morris International buys a South African unit

By: JournalNow Staff | JOURNAL STAFF AND WIRE REPORT
Published: July 03, 2009

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NEW YORK --

Philip Morris International Inc. said yesterday that it has agreed to buy Swedish Match AB's South African operations for $222 million.

Swedish Match South Africa Ltd.'s brands include Boxer, Best Blend and Taxi.

Philip Morris said it expects to complete the acquisition by the end of the fourth quarter.

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