The ST Group ready for growth after divestment

On 27 February 2008 Skandinavisk Holding (SH)/Skandinavisk Tobakskompagni (ST) and British American Tobacco (BAT) entered an agreement on BAT’s acquisition of the companies House of Prince, Tiedemanns Tobakk and Fiedler & Lundgren, as well as SH’s purchase of BAT’s shares in ST.

The agreement was subject to the competition authorities’ approval. The approval has now been given, however on the condition that BAT in connection with the acquisition divests certain cigarette and roll-your-own brands of Tiedemanns Tobakk, primarily in Norway.

The deal with BAT has therefore been concluded.

As part of the BAT transaction R. Færchs fabrikker withdraws as share-holder in SH, which hereafter is owned by Chr. Augustinus Fabrikker (approx. 58%) and C.W. Obel (approx. 42%). Furthermore, ST has acquired Assens Tobaksfabrik’s 50% shareholding in Orlik Tobacco Company which has become a 100%-owned company in the ST Group.

The future ST Group will move to a new domicile in the Copenhagen area during the autumn. The Group, with almost 10.000 employees, will remain a significant and strong international company with a turnover of DKK 22 billion.

Thus, the ST Group is the world’s largest manufacturer of pipe tobacco and a considerable player with respect to roll-your-own tobacco. In the cigar business the ST Group is number 1 in Europe and number 3 worldwide.

The ST Group’s ownership of the convenience goods company Dagrofa and ST’s engagement in Tivoli will continue unchanged.

ST’s Board of Management consists of Anders Colding Friis (CEO), Christian Hother Sørensen and Rob Zwarts.


For further information:

Director Jørgen Tandrup, Chairman of the Supervisory Boards of SH and ST,
Anders Colding Friis, CEO in ST.

Tel: +45 39 55 62 00