Imperial Brands PLC Disposal (6272D)

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RNS Number : 6272D

Imperial Brands PLC

29 October 2020

IMPERIAL BRANDS PLC

29 October 2020

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

Imperial Brands PLC completes sale of its Worldwide Premium Cigar Businesses

Imperial Brands PLC ("Imperial") is pleased to confirm the completion today of the sale of its worldwide premium cigar businesses ("Premium Cigars") for a total consideration of EUR1,225 million, of which net cash proceeds of EUR1.1 billion will be used to reduce debt.

As announced on 27 April 2020, EUR88 million of consideration will be deferred for 12 months from today's close, with a further EUR69 million deferred and contingent upon the transfer of the Dominican Republic factory, which is expected to complete in 2021. As subsequently announced on 28 September, Imperial has provided a further six-month deferral of EUR250 million while the buyers finalise long-term financing arrangements.

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 Investor Contacts                 Media Contacts 
                 [phone]                  [phone] 
 Peter Durman     903              Alex Parsons    241 
                 [phone]                  [phone] 
 Matt Sharff      921              Simon Evans     684 
                 [phone] 
 James King       880 
 

Cautionary Statement

Certain statements in this announcement constitute or may constitute forward-looking statements. Any statement in this announcement that is not a statement of historical fact including, without limitation, those regarding the Company's future expectations, operations, financial performance, financial condition and business is or may be a forward-looking statement. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected or implied in any forward-looking statement. These risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described in this announcement. As a result, you are cautioned not to place any reliance on such forward-looking statements. The forward-looking statements reflect knowledge and information available at the date of this announcement and the Company undertakes no obligation to update its view of such risks and uncertainties or to update the forward-looking statements contained herein. Nothing in this announcement should be construed as a profit forecast or profit estimate and no statement in this announcement should be interpreted to mean that the future earnings per share of the Company for current or future financial years will necessarily match or exceed the historical or published earnings per share of the Company. This announcement has been prepared for, and only for the members of the Company, as a body, and no other persons. The Company, its Directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this announcement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed.

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October 29, 2020 06:25 ET (10:25 GMT)