Home » Imperial Brands Transfers Russia Business to Local Investors – Bloomberg

Imperial Brands Transfers Russia Business to Local Investors – Bloomberg

by Arifa Rana

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Photographer: Will Wintercross/Bloomberg

Imperial Brands Plc said it transferred its business in Russia to local investors and will write off the value of the tobacco assets in the country. 
The maker of Gauloises cigarettes said the operations include a sales and marketing business and a factory in Volgograd, in a statement Wednesday. Imperial has about 1,000 employees in Russia and will take a 225 million pound ($294 million) write-off following the transfer. 

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