British American Tobacco To Support Lorillard Deal - Quick Facts

(RTTNews) - British American Tobacco (BATS.L, BTI) announced it has noted the recent announcements from Imperial Tobacco plc (IMT.L, ITYBY.PK), Reynolds American Inc. (RAI), and Lorillard (LO) regarding the potential acquisition by Reynolds American of Lorillard, and the proposed disposal of certain assets from Reynolds American and Lorillard to Imperial as part of the deal. British American Tobacco is RAI's largest shareholder.

"If such a deal were to proceed, British American Tobacco expects to support the transaction by subscribing for additional shares in Reynolds American, with the aim of maintaining its existing 42% equity position in Reynolds American. Unless circumstances dictate otherwise, British American Tobacco does not intend to make any additional comments regarding this matter," British American Tobacco stated.

Earlier today, Reynolds American confirmed that it is in discussions with Lorillard regarding a possible acquisition of Lorillard.