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Philip Morris to expand in huge Indonesian market

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dArKeR Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-15-05 08:14 AM
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Philip Morris to expand in huge Indonesian market
Marlboro maker Philip Morris yesterday said it is offering US$5.2 billion for one of heavy-smoking Indonesia's largest cigarette firms to expand its share of one of the world's biggest markets.

The US firm agreed to acquire a 40 percent stake in Sampoerna for 10,600 rupiah (US$1.13) a share -- 20 percent higher than the closing price of 8,850 last Thursday -- and said it wanted to buy the remainder for the same amount.

Sampoerna's shares rose sharply on the offer, which Philip Morris International -- the operating arm of the Altria Group -- hopes to complete within 90 days, paying cash for the stock.

http://www.taipeitimes.com/News/worldbiz/archives/2005/03/15/2003246388

Nice to see American Republican Christianity being spread to all corners of the Earth!
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