Japan Tobacco said it has completed the transfer of the shares of PT. Karyadibya Mahardhika (KDM), a kretek cigarette company, and its distributor, PT. Surya Mustika Nusantara (SMN).
The agreement to this acquisition was announced in the Company’s August 4, 2017 statement.
The transaction is expected to be fully completed in the fourth quarter of the fiscal year 2017 following remaining regulatory clearances.
The acquisition is in line with the JT Group’s geographic expansion for sustainable growth. It provides immediate scale and presence on a nationwide level in the Indonesian kretek
market and offers a strong distribution platform.
The transaction will not have any material impact on the JT Group’s consolidated performance for the fiscal year 2017.
In line with JT Group’s geographic expansion for sustainable growth, the company also completed the acquisition of Philippines’ Mighty Corporation.
