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Swedish Match says looking at Scandinavian Tobacco Group IPO
February 9, 2015 / 8:47 AM / 3 years ago

Swedish Match says looking at Scandinavian Tobacco Group IPO

STOCKHOLM, Feb 9 (Reuters) - Tobacco products maker Swedish Match said on Monday it was evaluating a potential initial public offering (IPO) of Scandinavian Tobacco Group (STG) together with shareholder Skandinavisk Holding but that no final decision had been made.

Sources told Reuters in November that the two owners of STG were in talks with private equity firms about a possible sale of the cigar maker.

STG's chairman also told the Borsen newspaper last August that the business was looking at an IPO on the Nasdaq OMX Copenhagen exchange.

Swedish Match has had the right to sell its 49-percent stake in STG since a lock-up period expired in October.

"The shareholders of STG have agreed that it is in their best interests to continue growing STG under the leadership of Niels Frederiksen, the newly appointed CEO, in view of a potential future Initial Public Offering," it said in a statement.

Reporting by Helena Soderpalm; editing by Jason Neely

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