Lucky Strike maker BAT signs deal to sell Russian business after 18 months

📆 7/9/2023 6:26 PM
📰 Glasgow_Times

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The business said in March 2022 that it would withdraw from Russia, but had faced criticism for remaining in the country.

The company said: “The buyer is a consortium led by members of BAT Russia’s management team which, upon completion, will wholly own both businesses.”

BAT has a head office in Moscow, 75 regional offices and a factory in St Petersburg. It also has an office in Belarus.The Russian and Belarusian business accounted for around 2.7% of BAT revenue at the end of June, and 2.5% of adjusted profit from operations, allowing for currency fluctuations.

It added: “Russia is violating international humanitarian law, including war crimes and crimes against humanity, through attacks on civilians and civilian infrastructure .”

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