USA: Philip Morris International to become majority shareholder of Swedish Match

Philip Morris International (PMI) has become the majority shareholder of the leading oral nicotine company Swedish Match.

PMI has acquired 93 percent of the shares in Swedish Match and its portfolio of oral nicotine products in a move to accelerate its objective of a smoke-free future replacing cigarettes with science-based, better alternatives to smoking products.

“We are delighted to have obtained over 90 percent ownership of Swedish Match, allowing us to initiate a minority redemption process to acquire the remaining shares outstanding and request the delisting of the company from the stock market,” said Jacek Olczak CEO of Philip Morris International. “We are very excited about the growth, value creation, and progress in tobacco harm reduction that we believe can be achieved together over the coming years.”

Since 2008, PMI had invested USD 9 billion in researching, developing, and commercializing smoke-free products.

Source: Philip Morris International