Tuesday 15 July 2014

Fancy that: BAT appoints Deutsche Bank alongside UBS to advise on $4.7 billion investment in Reynolds/Lorrillard merger

I see British American Tobacco has finally put on an announcement effectively confirming my story on the front page of The Times a few months ago.

Back in May, I wrote that BAT had asked Deutsche Bank to work alongside UBS, the company's long-standing financial adviser, on how it should pursue and finance deals in America. Here is a link to the article: http://www.thetimes.co.uk/tto/business/industries/consumer/article4086903.ece

Today, BAT said it would invest $4.7 billion so that it would end up with a 42pc stake in the combined Reynolds/Lorillard group. Nigel Meek, a veteran investment banker at Deutsche Bank, appears to be the lead adviser to BAT on the deal. Here is a link to the BAT announcement: http://www.investegate.co.uk/british-am--tobacco/rns/bat-to-maintain-42--of-enlarged-reynolds-american/201407151207553674M/

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