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Russias Donskoi Tabak may acquire 34% in Greeces cigarette maker Sekap
19.03.2013 21:14
Russias Donskoi Tabak may acquire  34% in Greeces cigarette maker Sekap

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

Tags: Russian business     

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