Conference call transcript (55 kb) Notes British American Tobacco won auction with bid of US$1.72bn Assets comprise: Trademarks to Tekel portfolio 2007 volumes approx 32bn Share of market was approx 29% 6 factories, 3 operational, 1 on short lease 2 years of leaf stocks Does not include employees 2007 EBITDA $151m (estimated) represents a multiple of 11.4 times Significant cost savings opportunities of around 30m One-off costs of 50m in 2008 Earnings enhancing from 2009, 2008 EPS affected by a deferred tax charge of approx 20m BAT Investor Relations app Download our Investor Relations app to access all of our latest financial information on your iPad, iPhone or Android
This is not about dramatic transformations but subtle improvements that help your smile reflect your best self during holiday photos and celebrations
Children, seniors, and those with respiratory issues are at higher risk
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Not only would this be a smaller stake, but it would be unbound by some of the additionally stringent regulations affecting investment into Indian tobacco companies, potentially allowing BAT a clear path to sell the new stake to unlock value for shareholders
