London & New York – LAWFUEL – Business Law News — Allen & Overy LLP is advising Imperial Tobacco Group PLC on the proposed USD1.9 billion (STG974 million) acquisition of 100 per cent of CBHC Inc, which trades as Commonwealth Brands. The acquisition is due to complete in April 2007.
Commonwealth Brands is the fourth largest cigarette manufacturer in the United States of America, with 3.7 per cent of the 376 billion US cigarette market. Commonwealth Brands manufactures and sells five high quality discount cigarette brands across the US and in Puerto Rico, which together account for 13.2 per cent of the discount segment.
Imperial Tobacco Group is the world’s fourth largest international tobacco company. The Group manufactures and sells a comprehensive range of cigarettes, tobaccos, rolling papers, filter tubes and cigars in over 130 countries worldwide. It has around 14,500 employees and 32 manufacturing sites.
The Allen & Overy team is being led out of New York by senior corporate counsel, Michael Gilligan assisted by Henry Morgenbesser, Jean-Philippe Brisson and Marina Casani. Anti-trust partner, Michael Jahnke and tax associate Dave Lewis are also advising on the transaction. From London, Relationship partner Jeremy Parr, assisted by Stephen Kubicki, Finance partner, Ian Borman assisted by Ian Roebuck are advising on the transaction.
Michael Gilligan, commenting “We are delighted to have advised Imperial Tobacco on this significant strategic deal, being the second largest in their history and their first transaction in the US market.”
For further information, please contact Karen Levin ([email protected]) on +44 20 3088 4341.