STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
As communicated earlier, Swedish Match (STO:SWMA) with the other shareholder of Scandinavian Tobacco Group (STG) have engaged advisors to assess strategic alternatives with regards to STG. In the strategic review further opportunities have been identified and the shareholders of STG have agreed that it is in their best interests to continue growing STG under the leadership of Niels Frederiksen, the newly appointed CEO, in view of a potential future Initial Public Offering.
On January 30, STG announced the appointment of Niels Frederiksen as CEO, replacing the departing CEO, Anders Colding Friis. Niels Frederiksen is currently the company’s Executive Vice President of the global supply chain and member of the Executive Board. Over the past years, Niels has played an instrumental role in building STG to what it is today, as well as in developing the future strategic direction of the company, where further operational improvements and increased capital efficiency have been identified as significant opportunities for increased profitability and return on capital.
“We believe that Niels Frederiksen has the experience and leadership skills necessary to further develop this great company,” says Lars Dahlgren, President and CEO of Swedish Match and a member of the Board of Directors of STG.
While no final decision has been made, the shareholders of STG have agreed to evaluate a potential Initial Public Offering.
The character of this information is such that it shall be disclosed by Swedish Match AB (publ) in accordance with the Swedish Securities Markets Act. The information was disclosed to the media on 9 February, 2015 at 08.45 a.m. (CET).
Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product areas Snus and moist snuff, Other tobacco products (cigars and chewing tobacco), and Lights (matches and lighters).Well known brands include General snus, Longhorn moist snuff, White Owl cigars, Red Man chewing tobacco, Fiat Lux matches, and Cricket lighters. The Group sells products across the globe, with production units in six countries. The Group’s global operations generated sales of 12,947 MSEK for the twelve month period ending September 30, 2014. The Swedish Match share is listed on NASDAQ OMX Stockholm (SWMA). _________
Swedish Match AB (publ), Box 7179, SE-103 88 Stockholm, Sweden Visiting address: Västra Trädgårdsgatan 15. Telephone: +46 8 658 0200 Corporate Identity Number: 556015-0756 www.swedishmatch.com
This information was brought to you by Cision http://news.cision.com