BAT Lost £3.45 billion from Selling Assets in Russia and Belarus

BAT by 2FIRSTS.ai

Feb.28.2024

BAT Lost £3.45 billion from Selling Assets in Russia and Belarus

Recent evaluations by British American Tobacco reveal significant losses from selling assets in Russia and Belarus, totaling £3.45 billion.

Recently, according to Reform News, British American Tobacco assessed the losses from selling their businesses in Belarus and Russia. The company's 2023 annual report shows that their assets in Russia and Belarus were originally valued at £770 million, but were sold for £425 million, resulting in a direct trading loss of £345 million.

In September 2023, BAT sold its "BAT Russia Company" and it is now owned by ITMS Group.

References:

[1] British American Tobacco оценила потери от продажи беларусского и российского бизнеса

Also Read:

[1] BAT to Release Annual Performance Report, Switching Focus to E-cigs and HTPs

[2] Aziz Aliev Appointed as New General Manager of BAT Austria

[3] BAT's 2023 Financial Report: New Categories Drive Revenue Growth

[4] Integration of KOOL x neo into neo Brand by BAT Japan

#Europe #Traditional tobacco #Belarus #Russia #Major companies #British American Tobacco (BAT)

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

QISI’s Dongguan Factory Posts Recruitment Notice for Production Positions

QISI’s Dongguan factory has posted new production job openings, following earlier reports of a shutdown at its Zhuhai site.

Oct.15

KT&G Unveils lil hybrid 3.0 Misty Rose Limited Edition, Limited to 20,000 Devices

KT&G has launched the limited-edition “lil hybrid 3.0 Misty Rose Edition” heated tobacco device in South Korea, betting on year-end consumer demand with a gradient rose-colored design. The release is capped at 20,000 units and is available through both online and offline channels, with an official retail price of 78,000 won (approximately USD 53).

Nov.20 by 2FIRSTS.ai

BAT leaders caution that EU tax hikes may recreate Australia’s ‘black market expansion’ scenario.

BAT execs warn that steep EU tax hikes on cigarettes and alternatives could spur an Australia-style surge in illicit tobacco, arguing smugglers profit even if 24 of 25 containers are seized; the European Commission disputes this view.

Oct.14

Vietnam to Ban Investment and Trade in E-cigarettes and Heated Tobacco, with Exceptions for Export and Research

Vietnam’s finance vice minister proposes banning investment and business in e-cigarettes and heated tobacco under a 2024 resolution, with possible exceptions for export-only products and research/medical/defense uses.