Swedish Match completes transaction with Scandinavia Tobacco Group

(Swedish Match via Reuters) Today, Swedish Match (SM) and Scandinavian Tobacco Group (STG) announce the creation of a global company with leading market positions in cigars, pipe tobacco and fine cut tobacco. Following previous announcements in January and April 2010, all necessary approvals have been obtained and the transaction was finalized on October 1st. The new company will operate under the name Scandinavian Tobacco Group, and will be headquartered in Copenhagen, Denmark. SM has contributed its cigar businesses (with the exception of US mass market cigars and its minority interest in Arnold André) as well as its pipe tobacco and accessories businesses. STG has contributed all of its tobacco businesses (cigars, pipe tobacco and fine cut tobacco). Continued

Image: Ivar Kreuger, the "Match King," founded Swedish Match in 1917.