Swedish Match completes transaction with Scandinavian Tobacco Group
Today, Swedish Match (SM) and Scandinavian Tobacco Group (STG) announce the creation of a global company with leading market positions in cigars, pipe tobacco and fine cut tobacco.Following previous announcements in January and April 2010, all necessary approvals have been obtained and the transaction was finalized on October 1st. The new company will operate under the name Scandinavian Tobacco Group, and will be headquartered in Copenhagen, Denmark. SM has contributed its cigar businesses (with the exception of US mass market cigars and its minority interest in Arnold André) as well as