Back to all News

Imperial Brands PLC provides an update on sale of its Worldwide Premium Cigar Businesses

Imperial Brands PLC is pleased to confirm receipt today of the deferred consideration of €250 million following the sale of its worldwide premium cigar businesses on 29 October 2020.

This brings the total proceeds received to €1,068 million from the total consideration of €1,225 million. As announced on 29 October 2020, €88 million of the consideration is deferred for 12 months and €69 million is deferred and contingent upon the transfer of the Dominican Republic factory.

The net cash proceeds of €1.1 billion will be used to reduce debt.

ENDS

 

Investor Contacts   Media Contacts  
Peter Durman +44 (0)7970 328 903 Alex Parsons +44 (0)7967 467 241
James King +44 (0)7581 052 880 Simon Evans +44 (0)7967 467 684
Jennifer Ramsey +44 (0)7974 615 739