Reported about 2 months ago
JT Group has announced its agreement to purchase Vector Group Ltd., a discount cigarette manufacturer, for approximately $2.4 billion. This acquisition aims to enhance JT's presence in the US tobacco market, increasing its market share from 2.3% to around 8% and allowing it to own two of the top ten cigarette brands in the US. The deal comes as JT seeks new growth opportunities after its plans in Russia were disrupted by geopolitical issues.
Source: YAHOO