Altadis CEO hints at possible 100% sale of Logista
Altadis Chief Executive Juan Arrizabalaga hinted on Thursday that it may sell 100% of Compañía de Distribución Integral Logista Holdings (Logista), reported Cinco Dias. Arrizabalaga is quoted as saying that the distribution unit is considered non-strategic to Altadis' tobacco making business.
The executive added that the first objective was to list Logista in the stock market before the summer. Though he could not confirm the stake to be sold, it will be probably around 40%, according to the Spanish-language report.
Logista could fetch a valuation of EUR 1.5bn, the paper noted.
Source Cinco Dias