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10 March 2008
Imperial Tobacco Group PLC Announces the Disposal of its 49.95% Stake in Aldeasa, S.A.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
Following the acquisition of Altadis, S.A. ("Altadis"), Imperial Tobacco Group PLC ("Imperial Tobacco") today announces it has agreed to dispose of its 49.95% shareholding in Aldeasa, S.A. ("Aldeasa") to Autogrill Espańa S.A., ("Autogrill"), a subsidiary of Autogrill S.p.A..
Aldeasa is a Spanish based airport duty free retailer which generated consolidated sales of approximately 830 million in the year to 31 December 2007. Aldeasa has operated as a joint venture between Altadis and Autogrill since 2005.
Imperial Tobacco's stake is to be sold for a total cash consideration of 275 million, which represents an enterprise value (including Imperial Tobacco's share of Aldeasa's net debt) of c.355 million for Imperial Tobacco's 49.95% share of Aldeasa, and a 2007 EV/EBITDA multiple of 9.2x. The transaction is conditional on approval from the European Commission, and Imperial Tobacco expects that it will be completed by May 2008.
Enquiries
Imperial Tobacco
Alex Parsons (Head of Corporate Communications)
Telephone: +44 (0) 7967 467241
Simon Evans (Group Press Officer)
Telephone: +44 (0) 7967 467684
John Nelson-Smith (Investor Relations Manager)
Telephone: +44 (0) 117 933 7032
Nicola Tate (Investor Relations Manager)
Telephone: +44 (0) 117 933 7082
Citi (financial adviser to Imperial Tobacco)
Ian Carnegie-Brown
Ian Hart
Telephone: +44 (0) 20 7986 4000
Citi, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Imperial Tobacco and no one else in relation to the matters referred to in this announcement and will not be responsible to anyone other than Imperial Tobacco for providing the protections afforded to clients of Citi nor for providing advice in relation to these matters, the content of this announcement or any matter referred to in it.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
Following the acquisition of Altadis, S.A. ("Altadis"), Imperial Tobacco Group PLC ("Imperial Tobacco") today announces it has agreed to dispose of its 49.95% shareholding in Aldeasa, S.A. ("Aldeasa") to Autogrill Espańa S.A., ("Autogrill"), a subsidiary of Autogrill S.p.A..
Aldeasa is a Spanish based airport duty free retailer which generated consolidated sales of approximately 830 million in the year to 31 December 2007. Aldeasa has operated as a joint venture between Altadis and Autogrill since 2005.
Imperial Tobacco's stake is to be sold for a total cash consideration of 275 million, which represents an enterprise value (including Imperial Tobacco's share of Aldeasa's net debt) of c.355 million for Imperial Tobacco's 49.95% share of Aldeasa, and a 2007 EV/EBITDA multiple of 9.2x. The transaction is conditional on approval from the European Commission, and Imperial Tobacco expects that it will be completed by May 2008.
Enquiries
Imperial Tobacco
Alex Parsons (Head of Corporate Communications)
Telephone: +44 (0) 7967 467241
Simon Evans (Group Press Officer)
Telephone: +44 (0) 7967 467684
John Nelson-Smith (Investor Relations Manager)
Telephone: +44 (0) 117 933 7032
Nicola Tate (Investor Relations Manager)
Telephone: +44 (0) 117 933 7082
Citi (financial adviser to Imperial Tobacco)
Ian Carnegie-Brown
Ian Hart
Telephone: +44 (0) 20 7986 4000
Citi, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Imperial Tobacco and no one else in relation to the matters referred to in this announcement and will not be responsible to anyone other than Imperial Tobacco for providing the protections afforded to clients of Citi nor for providing advice in relation to these matters, the content of this announcement or any matter referred to in it.
06 1 412 8200
info@hu.imptob.com