Imperial Tobacco sells brands for 254 mln euros

Wed Apr 23, 2008 11:06pm BST
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LONDON (Reuters) - Britain's Imperial Tobacco Group Plc (IMT.L: Quote, Profile, Research) said on Wednesday it was selling a number of fine cut and pipe tobacco brands to Philip Morris International Inc (PM.N: Quote, Profile, Research) for 254 million euros ($406 million).

Imperial said the disposal was a condition of the European Commission's approval of its acquisition of Altadis.

"As previously stated ... this divestment will not materially adversely affect the operational and financial performance of Imperial Tobacco," it said.

(Reporting by Dan Lalor, Editing by Mike Elliott)