(MENAFN) Tobacco giant Reynolds American is to acquire Lorillard for USD27.4 billion and sell cigarette brands, including Salem and Winston, to British firm Imperial Tobacco for USD7.1 billion, The Peninsula Qatar reported.
The deal combines Reynolds American Inc. the parent company of RJ Reynolds, maker of Camel and Pall Mall, and Lorillard, whose Newport cigarette is the second-best selling cigarette in the US.
"The addition of these brands to Imperial's US operations will more than triple its share of the US cigarette market, position it for long-term success in traditional tobacco products," RAI said.
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