Sale confirmed
![Sale confirmed](https://files.tobaccoreporter.com/wp-content/uploads/sites/2/2016/05/kreteks-web-1-800x560.jpg)
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.