Imperial Brands plc

04/29/2021 | Press release | Distributed by Public on 04/29/2021 09:21

Imperial Brands PLC provides an update on sale of its Worldwide Premium Cigar Businesses

Imperial Brands PLC is pleased to confirm receipt today of the deferred consideration of €250 million following the sale of its worldwide premium cigar businesses on 29 October 2020.

This brings the total proceeds received to €1,068 million from the total consideration of €1,225 million. As announced on 29 October 2020, €88 million of the consideration is deferred for 12 months and €69 million is deferred and contingent upon the transfer of the Dominican Republic factory.

The net cash proceeds of €1.1 billion will be used to reduce debt.