British American Tobacco Sells Business in Russia and Belarus
On September 7, according to TASS news agency, British American Tobacco has announced the sale of its business in Russia and Belarus. However, the company's trademarks will continue to be owned by the Russian business. This news has been confirmed by the Russian branch of the company, as per their press release.
British American Tobacco announced today that it has completed the sale of its business operations in Russia and Belarus. All current trademarks will be retained by the Russian operations. As a result, consumers will continue to benefit from high-quality products under their familiar brands.
According to the information provided in the press release, the new business structure will be named ITMS Group after the completion of the transaction.
The buyers consist of a consortium of Russian investors and the local management team of "BAT Russia". The company's press release further states:
After completing all necessary procedures, the consortium will fully own the operations of British American Tobacco Group in Russia and Belarus.
The new business owner's main focus is to ensure continuity of all business processes throughout and after the transfer, secure employment opportunities for all employees, and adhere to an investment plan agreed upon in consultation with government officials.
In February 2023, the company announced its plans to complete the sale of its operations in Russia and Belarus by the end of this year.
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