Swedish Match Sales Off Stake in Premium Cigar Business

0
1424
Swedish Match

Swedish Match is exiting the premium cigar business. This week, Swedish Match Treasury Switzerland AG (the subsidiary of Swedish Match) reportedly sold 9,069,906 shares of Scandinavian Tobacco Group (STG) stock, according to Halfwheel.

Prior to the sell, Swedish Match Treasury Switzerland AG had 9.07 interest in STG. With these changes, Augustinus Fabrikker Aktieselskab, who was one of the original two stakeholders of STG, now owns 25 percent of the company.