European Commission (EC) approves proposed acquisition of the cigarette business of Skandinavisk Tobakskompagni (STK) by British American Tobacco (BAT

July 2, 2008 - The EC has cleared under the EU Merger Regulation the proposed acquisition of the cigarette business together with certain roll-your-own tobacco and "snus" (a type of oral tobacco) interests of the Danish company STK by BAT of the UK. The Commission's decision is conditional upon the divestment of a number of tobacco brands, primarily in Norway where the Commission identified competition concerns. In light of this commitment, the Commission has concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. Reference: Merger: Skandinavisk Tobakskompagni by BAT, subject to conditions, 6/27/2008. Related news briefs: EU extends review of British American Tobacco (BAT) and Skandinavisk Tobakskompagni (ST), British American Tobacco (BAT) reported group volume sales up for first quarter 2008.. and BAT to Acquire Most of Denmark's ST...