Thursday, September 16, 2021

Swedish Match plans to spin off and list the cigar business

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“Swedish Match has initiated preparations for a separation and a subsequent listing on a major U.S. securities exchange,” it said in a statement on Tuesday. A spin-off would mean that Swedish Match, which sold its cigarette business in 1999, exits the combustible tobacco products segments.

The company generates the bulk of profits from its Swedish-style snuff “snus”, and its tobacco-free nicotine pouch business is growing rapidly. (Reporting by Anna Ringstrom; Editing by Clarence Fernandez)

“The separation is expected to be completed during the second half of 2022, at the earliest.”

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