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EU: The European Commission yesterday approved the proposed acquisition of Swedish Match by Philip Morris International (PMI), announced in May, provided PMI complies with the commitments offered. These commitments, suggested by PMI to address the Commission’s preliminary competition concerns, consist of divesting Swedish Match’s logistics arm, SMD Logistics. The Commission will closely monitor the divestment process, including the choice of a suitable purchaser for the divested business, which will have to » Continue Reading.
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