STOCKHOLM, Sept 15 (Reuters) – Tobacco and nicotine merchandise maker Swedish Match plans to spin off its U.S. cigar enterprise to shareholders and record it on the inventory market, the corporate stated.
A spin-off would imply that Swedish Match, which bought its cigarette enterprise in 1999, exits the flamable tobacco merchandise segments.
“Swedish Match has initiated preparations for a separation and a subsequent itemizing on a serious U.S. securities trade,” it stated in a press release on Tuesday.
“The separation is anticipated to be accomplished through the second half of 2022, on the earliest.”
The corporate generates the majority of income from its Swedish-style snuff “snus”, and its tobacco-free nicotine pouch enterprise is rising quickly. (Reporting by Anna Ringstrom; Modifying by Clarence Fernandez)