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)

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