The largest Russian independent tobacco factory, Donskoy Tabak, has reached an agreement on acquisition of 34% of Greek cigarette maker Sekap, reports the RBC referring to Bloomberg. Sekap control stock is currently owned by the Greek state bank ATE, which is to sell out its non-core assets.
The sum of the deal is unlikely to exceed 20 million Euro. The tobacco factory may become for the Russian company a good start for entering Central and Southern European markets.
The Sekap market share in the national market amounted 8.3% in 2011. A big part of the production is exported.
Author: Irina Fomina