• Bloomberg

  • SHARE

Japan Tobacco Inc. has agreed to buy Russia’s Donskoy Tabak for 90 billion rubles ($1.6 billion), strengthening its leading position in Russia as competition from cigarette alternatives erodes its domestic market share.

Donskoy Tabak has a 7 percent share in Russia, the world’s third-largest tobacco market, Japan Tobacco said in a statement Friday. The Tokyo-based company already controls about a third of the cigarette business in Russia. While tax increases and restrictions on smoking in public places have taken a toll, Russia still has one of the highest smoking rates in the world.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW