Swedish Match – update on Scandinavian Tobacco Group
As communicated earlier, Swedish Match with the other shareholder of Scandinavian Tobacco Group (STG) have engaged advisors to assess strategic alternatives with regards to STG. In the strategic review further opportunities have been identified and the shareholders of STG have agreed that it is in their best interests to continue growing STG under the leadership of Niels Frederiksen, the newly appointed CEO, in view of a potential future Initial Public Offering.On January 30, STG announced the appointment of Niels Frederiksen as CEO, replacing the departing CEO, Anders Colding Friis. Niels