Swedish Match announces planned separation of its cigar business
Swedish Match today announced that it intends to separate its cigar business via a spin-off to shareholders and to completely exit the manufacturing of combustible tobacco products. Swedish Match has initiated preparations for a separation and a subsequent listing on a major US securities exchange, with a final decision on execution subject to various considerations. The separation is expected to be completed during the second half of 2022, at the earliest.For more than 20 years, Swedish Match has been a pioneer in the transformation of its business model away from combustible tobacco,