Imperial Brands PLC Joint Venture (9232T)
January 11 2017 - 7:00AM
UK Regulatory
TIDMIMB
RNS Number : 9232T
Imperial Brands PLC
11 January 2017
IMPERIAL BRANDS PLC
11 January 2017
Driving growth in China
Subsidiaries of Imperial Brands PLC and China Tobacco (CNTC)
have established a dynamic long-term Joint Venture (JV) business
which will look to develop a variety of growth opportunities in
China and international markets.
Global Horizon Ventures Limited (GHVL) is initially focused
on:
-- leveraging the expertise of China's largest tobacco company,
Yunnan Tobacco, to drive the sustainable growth of Imperial's
Growth Brands West and Davidoff in China; and
-- maximising the potential of two Yunnan brands, Jadé and
Horizon, in markets outside of China.
As a result, Jadé joins Imperial's portfolio of Specialist
Brands.
The partnership has the potential to deliver additional
meaningful Growth Brand volumes in the JV's first five years.
Further tobacco and next generation product launches, as well as
potential M&A opportunities, will also be evaluated by GHVL in
due course.
Imperial Brands Chief Executive Alison Cooper and STMA Chief
Commissioner Ling Cheng Xin formally endorsed the JV during a
signing ceremony in Beijing.
Alison Cooper said: "We're excited by the growth potential
offered by this new business opportunity and look forward to seeing
our co-operation with our Chinese partners flourish for many years
to come."
GHVL, based in Hong Kong, has been jointly founded by ITL
Pacific HK Limited, a subsidiary of Imperial Brands, and Yunnan
Tobacco International Company Limited and Tian Li International
Company Limited, both units of CNTC, the operational arm of the
STMA.
The JV builds on a track record of co-operation which began in
2003 between Imperial and Yunnan Tobacco, China's number one
tobacco company with a market share of over 20 per cent.
China is the largest tobacco market in the world with annual
volumes of close to 2.5 trillion cigarettes.
Imperial was assisted in the transaction by Vermilion Partners
and Allen & Overy.
ENDS
Notes to editors
Imperial Brands, a FTSE 100 company headquartered in Bristol in
the UK, is the parent company of a dynamic international business
specialising in tobacco and non-tobacco brands. Its five distinct
entities are Imperial Tobacco, Tabacalera, ITG Brands, Fontem
Ventures and Logista.
Yunnan Tobacco International Company Limited is a subsidiary of
Yunnan Tobacco Industrial Corporation, in turn a subsidiary of
China National Tobacco Corporation (CNTC).
Tian Li International Company Limited is a subsidiary of China
Tobacco International Inc, in turn a subsidiary of CNTC.
Investor Contacts Media Contacts
+44 (0)7970 +44 (0)117
Peter Durman 328 903 Simon Evans 933 7375
+44 (0)117
Matt Sharff 933 7396
+44 (0)117
Jo Brewin 933 7549
This information is provided by RNS
The company news service from the London Stock Exchange
END
JVEOKDDBBBKDNDD
(END) Dow Jones Newswires
January 11, 2017 08:00 ET (13:00 GMT)
Imperial Brands (LSE:IMB)
Historical Stock Chart
From Apr 2024 to May 2024
Imperial Brands (LSE:IMB)
Historical Stock Chart
From May 2023 to May 2024