Japan Tobacco Inc., said it has completed the acquisition of the tobacco business of the Akij Group.
It would be recalled that the agreement to acquire the business was announced in a press release on August 6, 2018.
The acquisition of Akij’s tobacco business enables the JT Group to become the second largest tobacco company in Bangladesh. It also further expands the JT Group’s operations in emerging markets, supporting its sustainable profit growth objectives in the mid- to long-term.
The transaction will not have any material impact on the JT Group’s consolidated performance for the fiscal year 2018.