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BlogBlot
User

• Posted @ 18-05-2005 20:35

Philip Morris raises stake in Sampoerna to 97 pct

Philip Morris International Corp said it has raised its stake in Indonesia's third largest 'kretek' (clove) cigarette maker, PT HM Sampoerna, to 97 pct following an irrevocable tender offer for an additional 57 pct. The tender was launched a month ago and is due to close today.

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Jeroen
Administrator

• Posted @ 18-05-2005 20:42

I assume it's no longer am Indonesian company anymore. Will this be the start of foreign investment picking up again or will Philip Morris just try to earn some money so they can pay for huge settlements elsewhere in the world?

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