Philip Morris International takes control of Sampoerna

The international cigarette company has tabled a bid to buy Indonesian clove cigarette company Sampoerna in a deal that could be worth $5.2 billion.

It was announced yesterday March 14 that Philip Morris International PMI - maker of Marlboro and LM cigarette brands - has made a bid to buy Indonesia's iconic Sampoerna clove cigarette company. PMI has agreed to pay the Sampoerna family Rp10,600 a share for its 40% stake and will now launch a public tender for the remaining 60% of the company listed on the stock market at the same price.

The total size of the deal, if 100% of the company is acquired, will be Rp48 trillion $5.2 billion. This will make it the largest cross border MA deal in Indonesian history.

The price...

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