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IMT GreenFirst Forest Products Inc

0.46
0.00 (0.00%)
10:55:46 - Realtime Data
Share Name Share Symbol Market Type
GreenFirst Forest Products Inc TG:IMT Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.46 0.436 0.484 0.00 10:55:46

Acquisition

13/01/2004 1:54pm

UK Regulatory


RNS Number:1750U
Imperial Tobacco Group PLC
13 January 2004



Acquisition of a further 9.19 per cent of Reemtsma Cigarettenfabriken GmbH
("Reemtsma")

In accordance with the option agreement entered into at the time of the
acquisition of Reemtsma, Imperial Tobacco Group PLC has today acquired a further
9.19 per cent from Tchibo Holding AG ("Tchibo"), bringing its total holding in
Reemtsma to 99.20 per cent.

As announced when Imperial Tobacco acquired 90.01 per cent of Reemtsma in 2002,
Imperial Tobacco entered into put and call option arrangements with Tchibo and
certain others over the remaining 9.99 per cent of Reemtsma shares. Tchibo has
now exercised its option to sell its remaining Reemtsma shares. The total
consideration payable to Tchibo under the option agreement is approximately euro
558 million which has been satisfied in cash using Imperial Tobacco's existing
financing arrangements.

Under the option arrangements, each of the holders of the remaining 0.8 per cent
have the right, expiring on 31 July 2004, to sell their Reemtsma shares to
Imperial Tobacco, and Imperial Tobacco has the right to purchase those shares
between 1 August 2005 and 31 August 2010.

The nature of the agreement entered into at the time of the acquisition in 2002
is such that Imperial Tobacco has since May 2002 consolidated 100 per cent of
the results and net assets of Reemtsma; and the consideration due for the
balance of the shares has been included in net debt since that date.

Enquiries

Alex Parsons, Group Media Relations Manager +44 (0) 117 933 7241



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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