British American Tobacco to Acquire Polish E-Cigarette Business

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The FINANCIALBritish American Tobacco PLC said on September 22 that it has signed a conditional agreement to acquire Polish e-cigarette business CHIC Group for an undisclosed sum, according to Nasdaq.

The FTSE 100 listed tobacco company also said that it has signed a technology sharing term sheet agreement with R.J. Reynolds Tobacco Co., a unit of Reynolds American Inc.. The agreement provides a framework for collaboration and mutual cross-licensing of vapour product technologies up to Dec. 31, 2022.

British American Tobacco and R.J. Reynolds are expected to conclude and sign a legally binding definitive agreement by end of 2015.

Shares of British American Tobacco at 0907 GMT trading 1.4% lower at 3,510 pence each.


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