Japan Tobacco Buys Iranian Cigarette Maker

Tokyo, Oct. 19 (Jiji Press)--Japan Tobacco Inc. <2914> has acquired Arian Tobacco Industry, the fifth-largest cigarette maker in Iran, officials of the Japanese company said Monday. Through the acquisition, JT aims to cement its leading position in the Iranian market where 47 billion cigarettes are consumed per year, at a time when Western sanctions against the Middle East country are set to be lifted. In September, a local unit of JT purchased all outstanding shares in ATI. The value of the deal was not disclosed. With the Japanese market unlikely to grow, JT is actively promoting mergers and acquisitions abroad in an effort to boost its overseas operations. In September, JT agreed to buy non-U.S. rights to the Natural American Sprit brand from Reynolds American Inc. END