Recent work | May 11, 2022

Roschier represents Philip Morris International in its SEK 161 billion public offer for all shares in Swedish Match

Philip Morris International (PMI) has announced a recommended public offer to the shareholders of tobacco company Swedish Match AB for all the shares in the company, at a price of SEK 106 in cash per share, for a total of SEK 161,2 billion. Roschier represents Philip Morris International in the transaction.

The board of directors of Swedish Match recommends that Swedish Match’s shareholders accept the offer. The acceptance period is expected to commence on or around June 23, 2022 and expire on or around September 30, 2022.

The offer is conditional upon it being accepted to such extent that PMI becomes the owner of shares representing more than 90 percent of the total number of outstanding shares in Swedish Match (on a fully diluted basis), receipt of regulatory approvals as well as other terms and conditions.

Roschier’s core advisory team comprises Jens Bengtsson, Malin Leffler, Ola Sandersson, Erik Ellenius and Lovisa Eliasson together with Veronica Stiller, Björn Johansson Heigis, Kristian Hugmark, Jenny Welander Wadström, Marcus Kern Fahlander, Emil LarssonEllen PetterssonRebecca Huselius, Peder Boström, Alexis HekmatfarGiada Maglione, Jacob Giesecke, William Silfversten and Sanna Hammoud.