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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