BAT lights up
Article Abstract:
The planned merger of the financial services division of BAT Industries and Zurich Re is likely to have positive effects and will leave BAT geared to its tobacco activities. The financial services activities of BAT are valued at some 10.5 billion pounds sterling according to the merger terms. There are still problems to be tackled such as the impact of the demerger on BAT's tax position, and the way BAT's debt is to be shared. The deal will not be as attractive if the tobacco business takes on all the debt.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Pulling Hanson apart
Article Abstract:
Hanson's shareholders have approved the group's demerger plan. Imperial Tobacco and Millennium Chemicals shares will be trading in Oct 1996. Millenium has been affected by a drop in the price of titanium dioxide produced by a subsidiary. Imperial Tobacco has been affected by a legal case in the US over tobacco products, but the company is not exposed to the US and has a strong cash flow. The energy arm has yet to be valued and this may be a difficult task.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
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