ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business

Japan Tobacco nears final deal for Philippines' Mighty

Acquisition would expand JT's presence in growth market

 (placeholder image)
  © Reuters

TOKYO -- Japan Tobacco appears likely to reach a final agreement soon to purchase Philippine cigarette manufacturer Mighty for 45 billion pesos ($887 million), primarily for assets related to the production and sales of cigarettes.

An overseas JT subsidiary has obtained exclusive negotiating rights and is hammering out a deal, and by Friday had signed a memorandum of understanding on the acquisition. Details still need to be fleshed out.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more