BAT Plans to Exit Russian Market by 2023

Feb.10.2023

BAT Plans to Exit Russian Market by 2023

BAT plans to sell its Russian business by March 2022, formally exiting the Russian market. Belarus business will be merged and transferred.

On February 9th, British American Tobacco (BAT) announced in its annual report that it plans to sell BAT Russia on March 11th, 2022 and complete the transfer by 2023, effectively exiting the Russian market.

In addition, due to the strong business interdependence between BAT Russia and Belarus companies, it has been decided to merge the Belarus business into the Russian company through a transfer.

It has been reported that the partner who has taken over BAT's business in Russia and Belarus is a collaborator of BAT in Russia.

Reference:

The acceleration of a new category will drive profitability forward until 2024.

Related reading:

According to the annual report released by BAT (British American Tobacco), the company's e-cigarette business in the United States experienced the most growth compared to other markets. BAT's emerging markets also saw an increase of over 50%.

British American Tobacco (BAT) is expected to generate revenues of £27.7 billion in 2022. Their electronic cigarette business is predicted to recover from losses and become profitable a year ahead of schedule.

#Legislation #Asia #Japan #Pod system e-cigarettes #E-cigarette Market #British American Tobacco (BAT)

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