Japanese tobacco company JT Group (2914.T) announced a deal to buy Miami-based Vector Group Ltd. in statements on Wednesday, saying it would pay around $2. The design will solidify JT Group´s presence in the U.S. tobacco market as a whole
BofA Merrill Lynch is acting as Joint Lead Arranger and Joint Bookrunner for the facilities to be entered into by MacAndrews & Forbes, while Freshfields Bruckhaus Deringer US LLP will serve as legal counsel representing JT Group in connection with the proposed transaction. Sullivan & Cromwell LLP will act as Vector’s legal advisor.
JT Expands Presence in the United States
Japan Tobacco Group (JT) is a global tobacco, pharmaceuticals and foods business headquartered in Tokyo. The company distributes well-known brands such as Winston and Camel internationally. The purchase of the nation’s fourth-largest tobacco company will further add JT Group to its U.S. business portfolio with Vector Group, based in Miami.
Malt Group, in Miami and run through the Liggett Group LLC unit supplies discount cigarette labels as well since Liggett Select, Esteso Prix, Pyramid montego Minions. Wilkes also controls diversified holdings Vector Group LTD., including New Valley LLC, a subsidiary that has minority investments in U.S. real estate projects.
JT Group to acquire Vector Group : Deal to Close by Year-End
The deal will be tender offer and is expected to close by the end of 2022, at which time Vector Group will become a private company. The purchase acquired the agreed price of $15 per share, which reduces a little below Vector’s value following to buying for sale at $15. 13 equally part increased almost twelve % post declaration.
