PMHH Obtains Over 90% Ownership Of Swedish Match; To Request Delisting Of Swedish Match's Shares

Philip Morris Holland Holdings B.V., an affiliate of Philip Morris International Inc., said the total number of shares in Swedish Match held by PMHH, including the shares tendered in the offer at the end of the further extended acceptance period on November 25, 2022, amounts to 1,415,987,960 shares, corresponding to approximately 93.11 percent of the share capital and the voting rights in Swedish Match. PMHH plans to initiate compulsory redemption to acquire all remaining shares in Swedish Match.

"We are delighted to have obtained over 90% ownership of Swedish Match, allowing us to initiate a minority redemption process to acquire the remaining shares outstanding and request the delisting of the company from the stock market," said Jacek Olczak, CEO of Philip Morris International.

Philip Morris International expects the acquisition to be low single-digit accretive to its adjusted EPS in 2023, before potential revenue synergies and excluding transaction-related and one-off costs and the amortization of acquired intangibles. PMI also remains committed to its progressive dividend policy, while gradually reducing adjusted EPS payout ratio to around 75% over time.

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