EUROPEAN COMMISSION APPROVES SCANDINAVIAN TOBACCO FIRM TAKEOVER BY BAT
June 1st, 2008
BY KEITH NUTHALL
THE PLANNED acquisition by British American Tobacco (BAT) of certain roll-you-own tobacco and snus sections of Denmark's Skandinavisk Tobakskompagni (STK) has been approved by the European Commission. To secure this agreement, BAT had to promise selling-off certain brands in Norway (notably Petterøe's and Tiedemanns Rød), where the expanded company would have had a dominant position. Following an investigation, Brussels concluded that "effective competition would [then] not be impeded". BAT will still however acquire the STK-owned ...
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