Swedish Match does not exclude selling or listing its stake in Scandinavian Tobacco Group
Swedish Match, the Swedish tobacco company, does not exclude listing or selling its 49% stake in Scandinavian Tobacco Group (STG), according to Borsen.
The Danish business daily cited a Swedish Match spokesperson after STG’s Chairman, Jorgen Tandrup, said to the paper yesterday that an IPO was a possible scenario for the company.
Swedish Match’s IR manager, Emmet Harrison, commented that Swedish Match has benefited from its ownership in STG with over DKK 200m (EUR 26.8m) in dividends per year. He said that nothing will occur with the stake until after the 1 October and the parties are still waiting for JP Morgan to finish its evaluation of the situation. He also commented that no decisions have been made yet but confirmed that an IPO is one of three possibilities along with selling the stake or keeping it.
The item noted that STG’s other shareholders, the Augustinus Fund and CW Obel, declined to comment on the matter.
Source Borsen