Deals
Japan Tobacco Said to Discuss Buying $5 Billion in Reynolds Assets
- Assets could include parts of Natural American Spirit brand
- Japanese company aims to expand outside home market with M&A
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Japan Tobacco Inc. is in talks to buy cigarette assets from Reynolds American Inc. as the company seeks to expand outside of its shrinking home market, according to people familiar with the talks.
The Japanese firm may acquire assets worth about $5 billion, including some of the Natural American Spirit tobacco brand that is part of a Reynolds operating company, said the people, who asked not to be identified because the information is private. While discussions are advanced, talks could still fall apart and the size of the deal and the makeup of the assets could still change, they said.