Next week, the Loews Corp. will formally spin off its entire interest in Lorillard Inc..

June 4, 2008 - Next week, the Loews Corp. will formally spin off its entire interest in Lorillard Inc., the 3rd largest tobacco company in the U.S. and producer of its largest menthol brand, Newport.. Loews Corp. will formally spin off its entire interest in Lorillard Inc. to the Carolina Group in a tax-free transaction that will make Lorillard a publicly traded company. The new entity will be traded as LO on the New York Stock Exchange as of June 10. UBS tobacco analyst Nik Modi says, "With menthol capturing greater market share in the premium cigarette business–paced by Newport as well as more recent investments by Philip Morris USA and Reynolds American–the spinoff should make Lorillard even more formidable." Modi added that Newport's top share in menthol comes even though it is the least promoted brand among the mainstream cigarette brands and carries the highest price point in the segment. (In Raleigh, NC in the last couple weeks Newport has gone up a $1.00/carton - TM) Lorillard has a Snus product called Triumph Snus, being test marketed in Ohio and Georgia (March 2008). Triumph snus is the result of a partnership between Swedish Match and Lorillard. News briefs related to spinoff: Loews to Spin Off Lorillard, Newport Cigarette Maker.. and Loews Q1 Profit Falls On Lower Revenues From CNA Financial, Lorillard... The Growth of Lorillard's Newport Cigarettes. (TobaccoWatch.org)