BAT fuels talks of Reynolds deal with appointment of Centerview
British American Tobacco (BAT) has appointed advisers from Centerview, The Sunday Telegraph reported. Centerview bankers worked on UK-headquartered BAT’s acquisition of a stake in the North Carolina-based tobacco group Reynolds American last year and the advisory appointment has fuelled speculation BAT might be planning to take over the remaining 58% stake in its US rival with a bid of more than USD 50bn, the unsourced report said.
BAT was advised on the Reynolds transaction last year by UBS, the item said, reporting that several bankers from UBS involved in that transaction are now working for Centerview.
A BAT spokesperson said the company is content with its current Reynolds shareholding but otherwise declined to make any comment, the item reported.
BAT’s current advisers already include Deutsche Bank and UBS, the report noted.
Sunday Telegraph