• June 22, 2024

Sale confirmed

 Sale confirmed

Taking the hand-rolled segment into account, the total Indonesian duty-paid market surpassed that of Russia in 2014.

Indonesian cigarette maker Gudang Garam said in a regulatory filing that it had signed an agreement with Japan Tobacco Inc for the sale of its wholly-owned subsidiary Karyadibya Mahardika and its distributor Surya Mustika Nusantara for US$677 million, which, when combined with the companies’ debt of US$323 million, increased the value of the transaction to US$1 billion, according to a Deal Street Asia story relayed by the TMA.

The acquisition was announced by JT on August 4.