Home Stock Market Tobacco group BAT in talks to switch Russian enterprise to long-time distributor SNS By Reuters

Tobacco group BAT in talks to switch Russian enterprise to long-time distributor SNS By Reuters

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March 18, 2022March 18, 2022
Tobacco group BAT in talks to switch Russian enterprise to long-time distributor SNS By Reuters

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© Reuters. FILE PHOTO: Signage is seen on the London places of work of British American Tobacco, in London, Britain, January 15, 2021. REUTERS/Toby Melville

By Richa Naidu

LONDON (Reuters) – British American Tobacco (NYSE:) Plc is in superior talks to switch its Russian enterprise to SNS Group of Corporations, its distributor of about 30 years, SNS mentioned, amid threats that Moscow would renationalise belongings of international corporations that left the nation.

“The method of transferring the administration of BAT (LON:) enterprise in Russia to SNS GC is nicely below manner at outstanding velocity,” an SNS spokesperson instructed Reuters. “The handover particulars are at present being negotiated.”

BAT declined to touch upon Friday.

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