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Tobacco group BAT in talks to transfer Russian business to long-time distributor SNS -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Signage is seen on the London workplaces of British American Tobacco, in London, Britain, January 15, 2021. REUTERS/Toby Melville

By Richa Naidu

LONDON (Reuters) – British American Tobacco (NYSE:) Plc is in superior talks to switch its Russian enterprise to SNS Group of Firms, its distributor of about 30 years, SNS stated, amid threats that Moscow would renationalise belongings of overseas corporations that left the nation.

“The method of transferring the administration of BAT (LON:) enterprise in Russia to SNS GC is properly beneath means at exceptional velocity,” an SNS spokesperson instructed Reuters. “The handover particulars are at the moment being negotiated.”

BAT declined to touch upon Friday.

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