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25 May 2011

Sayenko Kharenko – legal counsel on obtaining merger clearance for acquisition of Haggar Cigarette & Tobacco Factory Ltd. by Japan Tobacco Inc.

Sayenko Kharenko antitrust team has provided legal assistance in merger clearance with the Antimonopoly Committee of Ukraine (the "AMC") for USD 450 million acquisition of Haggar Cigarette & Tobacco Factory Ltd. (“HCTF”), a leading tobacco company in the Republics of Sudan and South Sudan, by Japan Tobacco Inc.(“JTI”), one of the leading international tobacco product companies.

Through this acquisition the JT Group will further expand its geographic footprint and enhance its earnings base from developing markets. The group remains committed to strengthening JTI’s business foundations with an overall strategy to foster growth in all markets with potential.

HCTF is the leading tobacco manufacturer in Sudan and South Sudan with a market share of over 80% and a total volume of over 4.5 billion cigarettes in 2010. Its success in this growing cigarette market is anchored on the best selling brand “Bringi”.

JTI is one of the leading international tobacco product companies. Its products are sold in over 120 countries and its internationally recognized cigarette brands include Winston, Camel, Mild Seven, and Benson & Hedges.

After the review of the proposed transaction, the AMC concluded that its implementation neither poses threats to competition nor significantly limits competition on any product market in Ukraine.

Sayenko Kharenko competition team for the current transaction included counsel Dmitry Taranyk and associate Maksym Nazarenko.

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