Imperial shareholders approve US assets acquisition

Imperial Tobacco shareholders yesterday approved the acquisition by the company’s wholly-owned subsidiary, ITG Brands, of a portfolio of US cigarette brands, the electronic cigarette brand blu, and the national sales force, offices and production facilities currently owned by Lorillard. These assets are currently owned by Reynolds American Inc and Lorillard.

Yesterday, too, Reynolds and Lorillard shareholders voted in favor of the acquisition of Lorillard by Reynolds.

The deals are still subject to regulatory approval and other conditions, but they are expected to be completed during the first half of this year.